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

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

Watsco Price Performance

Shares of WSO stock opened at $485.21 on Tuesday. The stock’s fifty day simple moving average is $484.70 and its 200 day simple moving average is $491.17. Watsco has a one year low of $373.33 and a one year high of $571.41. The firm has a market cap of $19.59 billion, a price-to-earnings ratio of 37.50 and a beta of 0.95.

Watsco Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $2.70 dividend. The ex-dividend date was Friday, January 17th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.23%. Watsco’s payout ratio is presently 83.46%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Raymond James started coverage on Watsco in a research report on Friday, January 17th. They issued a “market perform” rating for the company. Robert W. Baird reduced their target price on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Northcoast Research assumed coverage on shares of Watsco in a research note on Friday, November 22nd. They set a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Watsco currently has an average rating of “Hold” and a consensus price target of $488.33.

Insiders Place Their Bets

In other Watsco news, EVP Barry S. Logan sold 10,998 shares of the business’s 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 12.86% of the company’s stock.

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.