Watsco (NYSE:WSO) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Watsco (NYSE:WSO) announced its quarterly earnings data on Wednesday. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09), Briefing.com reports. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same quarter last year, the business earned $2.83 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year.

Watsco Stock Performance

Shares of WSO traded up $7.23 during midday trading on Thursday, hitting $447.83. 216,571 shares of the stock traded hands, compared to its average volume of 344,875. Watsco has a 1-year low of $315.17 and a 1-year high of $451.29. The firm has a market capitalization of $17.69 billion, a PE ratio of 32.94 and a beta of 0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. The business’s 50 day moving average price is $410.19 and its two-hundred day moving average price is $399.13.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be issued a dividend of $2.70 per share. This is an increase from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a dividend yield of 2.41%. Watsco’s payout ratio is 79.06%.

Wall Street Analyst Weigh In

Separately, Robert W. Baird raised their price objective on Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Watsco presently has an average rating of “Hold” and a consensus price target of $404.25.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.