Research Analysts Offer Predictions for Watsco, Inc.’s Q2 2022 Earnings (NYSE:WSO)

Watsco, Inc. (NYSE:WSOGet Rating) – Seaport Res Ptn raised their Q2 2022 earnings per share (EPS) estimates for shares of Watsco in a research note issued to investors on Tuesday, April 26th. Seaport Res Ptn analyst W. Liptak now forecasts that the construction company will post earnings per share of $4.96 for the quarter, up from their previous estimate of $4.38. Seaport Res Ptn also issued estimates for Watsco’s Q3 2022 earnings at $4.51 EPS, Q4 2022 earnings at $1.70 EPS, FY2022 earnings at $14.08 EPS, Q1 2023 earnings at $3.07 EPS, Q3 2023 earnings at $4.72 EPS and FY2023 earnings at $14.60 EPS.

Watsco (NYSE:WSOGet Rating) last released its quarterly earnings data on Thursday, April 21st. The construction company reported $2.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.80 by $1.10. Watsco had a return on equity of 23.76% and a net margin of 7.16%. The business had revenue of $1.52 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $1.39 EPS. The company’s revenue was up 34.1% compared to the same quarter last year.

A number of other research firms also recently issued reports on WSO. Zacks Investment Research downgraded Watsco from a “hold” rating to a “sell” rating and set a $313.00 price objective on the stock. in a research note on Monday, January 17th. Robert W. Baird lifted their price objective on Watsco from $300.00 to $350.00 in a research note on Friday, April 22nd. Morgan Stanley reduced their price objective on Watsco from $288.00 to $277.00 and set an “equal weight” rating on the stock in a research note on Friday, April 22nd. StockNews.com raised Watsco from a “hold” rating to a “buy” rating in a research note on Friday, April 22nd. Finally, KeyCorp upgraded Watsco from a “sector weight” rating to an “overweight” rating and set a $320.00 target price for the company in a report on Monday, February 14th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $316.29.

NYSE:WSO opened at $281.34 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.77 and a quick ratio of 1.16. Watsco has a 1 year low of $252.50 and a 1 year high of $318.98. The stock’s 50 day simple moving average is $289.02 and its two-hundred day simple moving average is $292.01. The company has a market cap of $10.94 billion, a price-to-earnings ratio of 22.97 and a beta of 0.85.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Thursday, April 14th will be issued a $2.20 dividend. This represents a $8.80 annualized dividend and a dividend yield of 3.13%. This is a boost from Watsco’s previous quarterly dividend of $1.95. The ex-dividend date is Wednesday, April 13th. Watsco’s dividend payout ratio is currently 71.84%.

In other news, Director Brian E. Keeley sold 11,000 shares of the business’s stock in a transaction on Wednesday, March 23rd. The stock was sold at an average price of $299.68, for a total value of $3,296,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.31% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. Accel Wealth Management purchased a new stake in Watsco during the 4th quarter valued at about $28,000. Sonora Investment Management LLC grew its stake in Watsco by 75.5% during the 3rd quarter. Sonora Investment Management LLC now owns 93 shares of the construction company’s stock valued at $25,000 after purchasing an additional 40 shares during the last quarter. Whittier Trust Co. purchased a new stake in Watsco during the 4th quarter valued at about $31,000. Massmutual Trust Co. FSB ADV purchased a new stake in Watsco during the 3rd quarter valued at about $30,000. Finally, Kistler Tiffany Companies LLC grew its stake in Watsco by 53.3% during the 4th quarter. Kistler Tiffany Companies LLC now owns 115 shares of the construction company’s stock valued at $36,000 after purchasing an additional 40 shares during the last quarter. 78.42% of the stock is currently owned by institutional investors.

About Watsco (Get Rating)

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

See Also

Earnings History and Estimates for Watsco (NYSE:WSO)

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