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

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

Watsco Stock Up 1.7 %

Shares of WSO traded up $7.68 during midday trading on Thursday, reaching $448.28. 175,709 shares of the stock were exchanged, compared to its average volume of 344,112. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 32.72 and a beta of 0.90. The firm has a 50 day simple moving average of $410.19 and a 200-day simple moving average of $399.13. Watsco has a 12-month low of $315.17 and a 12-month high of $451.29.

Watsco Increases Dividend

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

Analyst Upgrades and Downgrades

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