Watsco (NYSE:WSO) Posts Quarterly Earnings Results

Watsco (NYSE:WSO) announced its quarterly earnings data on Wednesday. The construction company reported $4.22 earnings per share for the quarter, missing analysts’ consensus estimates of $4.73 by ($0.51), Briefing.com reports. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm posted $4.35 earnings per share. The company’s revenue was up 1.6% compared to the same quarter last year.

Watsco Trading Up 2.5 %

Shares of WSO stock traded up $11.74 during mid-day trading on Thursday, reaching $478.16. The stock had a trading volume of 269,745 shares, compared to its average volume of 291,539. The firm has a market capitalization of $19.27 billion, a PE ratio of 36.46 and a beta of 0.88. The stock’s 50-day moving average price is $481.95 and its two-hundred day moving average price is $473.28. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. Watsco has a 52-week low of $338.58 and a 52-week high of $520.41.

Watsco Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, October 16th. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WSO. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday.

About Watsco

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.