Watsco (NYSE:WSO) Issues Earnings Results

Watsco (NYSE:WSO) released its quarterly earnings data on Wednesday. The construction company reported $4.22 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 the consensus estimate of $2.24 billion. During the same quarter in the prior year, the firm earned $4.35 EPS. The company’s revenue was up 1.6% compared to the same quarter last year.

Watsco Price Performance

Shares of NYSE:WSO opened at $478.16 on Friday. Watsco has a 1-year low of $338.58 and a 1-year high of $520.41. 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 stock has a market cap of $19.27 billion, a PE ratio of 36.78 and a beta of 0.88. The stock’s fifty day simple moving average is $481.96 and its two-hundred day simple moving average is $473.32.

Watsco Dividend Announcement

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 given 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 payout ratio is currently 83.08%.

Analyst Upgrades and Downgrades

WSO has been the subject of several research reports. Robert W. Baird reduced their price target on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

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.