Watsco (NYSE:WSO) Posts Quarterly Earnings Results, Misses Estimates By $0.51 EPS

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. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $4.35 EPS.

Watsco Trading Down 0.5 %

Shares of NYSE WSO traded down $2.37 during midday trading on Friday, reaching $475.90. The stock had a trading volume of 141,261 shares, compared to its average volume of 290,810. 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’s 50 day moving average price is $481.96 and its 200 day moving average price is $473.32. Watsco has a twelve month low of $340.52 and a twelve month high of $520.41. The firm has a market cap of $19.18 billion, a price-to-earnings ratio of 36.78 and a beta of 0.88.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. This represents a $10.80 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, October 16th. Watsco’s payout ratio is 83.08%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WSO. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research 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.