Watsco (NYSE:WSO) Issues Quarterly Earnings Results

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

Watsco Stock Up 2.5 %

WSO opened at $478.16 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.55 and a current ratio of 3.21. The company has a market capitalization of $19.27 billion, a PE ratio of 36.78 and a beta of 0.88. The stock’s fifty day moving average is $481.96 and its 200-day moving average is $473.32. Watsco has a one year low of $338.58 and a one year high of $520.41.

Watsco Announces Dividend

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

Analysts Set New Price Targets

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

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.