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

Watsco (NYSE:WSO) issued its earnings results 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. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the prior year, the company posted $4.35 EPS. The company’s quarterly revenue was up 1.6% on a year-over-year basis.

Watsco Stock Performance

WSO stock traded up $11.74 during midday trading on Thursday, reaching $478.16. 269,745 shares of the company’s stock traded hands, compared to its average volume of 291,539. Watsco has a 52-week low of $338.58 and a 52-week high of $520.41. The stock has a market cap of $19.27 billion, a P/E ratio of 36.46 and a beta of 0.88. 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’s 50-day moving average is $481.95 and its 200 day moving average is $473.28.

Watsco Dividend Announcement

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

Wall Street Analyst Weigh In

WSO has been the subject of several research reports. Robert W. Baird decreased their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Thursday. JPMorgan Chase & Co. boosted 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.

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.