Watsco (NYSE:WSO) Issues Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Watsco (NYSE:WSO) released its quarterly earnings results on Tuesday. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.24, Zacks reports. Watsco had a net margin of 6.99% and a return on equity of 17.77%.

Watsco Price Performance

WSO opened at $530.16 on Wednesday. The company’s 50-day moving average is $484.96 and its 200 day moving average is $491.61. Watsco has a fifty-two week low of $373.33 and a fifty-two week high of $571.41. The firm has a market capitalization of $21.41 billion, a P/E ratio of 40.97 and a beta of 0.95.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Friday, January 17th. Watsco’s dividend payout ratio (DPR) is 83.46%.

Insider Activity at Watsco

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 12.86% of the stock is owned by insiders.

Analyst Ratings Changes

WSO has been the subject of several analyst reports. Northcoast Research initiated coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Raymond James assumed coverage on shares of Watsco in a research report on Friday, January 17th. They set a “market perform” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $488.33.

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.