Watsco (NYSE:WSO) Announces Quarterly Earnings Results

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

Watsco Trading Up 2.5 %

Shares of NYSE WSO opened at $478.16 on Friday. The stock’s 50 day simple moving average is $481.96 and its 200 day simple moving average is $473.32. The company has a current ratio of 3.21, a quick ratio of 1.55 and a debt-to-equity ratio of 0.01. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 36.78 and a beta of 0.88. Watsco has a 12-month low of $338.58 and a 12-month high of $520.41.

Watsco Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WSO. JPMorgan Chase & Co. raised their price target on Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Robert W. Baird cut their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Thursday.

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.