Watsco (NYSE:WSO) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Watsco (NYSE:WSO) released its quarterly earnings results on Tuesday. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24, Zacks reports. Watsco had a return on equity of 17.61% and a net margin of 7.04%. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.67 billion.

Watsco Stock Performance

NYSE:WSO opened at $511.11 on Thursday. The stock has a fifty day moving average price of $484.90 and a two-hundred day moving average price of $491.75. The stock has a market capitalization of $20.64 billion, a price-to-earnings ratio of 38.57 and a beta of 0.95. Watsco has a 1 year low of $373.33 and a 1 year high of $571.41.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Friday, January 17th. Watsco’s payout ratio is 81.51%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on WSO shares. Robert W. Baird upped their price target on Watsco from $540.00 to $560.00 and gave the stock an “outperform” rating in a research note on Wednesday. Northcoast Research started coverage on Watsco in a research note on Friday, November 22nd. They set a “neutral” rating for the company. Finally, Raymond James assumed coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Watsco currently has a consensus rating of “Hold” and a consensus price target of $495.00.

Insiders Place Their Bets

In other news, EVP Barry S. Logan sold 10,998 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total value of $5,589,293.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 12.86% of the stock is currently owned by company insiders.

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.