Watsco, Inc. (NYSE:WSO) to Post Q2 2023 Earnings of $5.15 Per Share, William Blair Forecasts

Watsco, Inc. (NYSE:WSOGet Rating) – Research analysts at William Blair issued their Q2 2023 earnings per share (EPS) estimates for shares of Watsco in a research note issued to investors on Thursday, January 12th. William Blair analyst R. Merkel expects that the construction company will post earnings per share of $5.15 for the quarter. The consensus estimate for Watsco’s current full-year earnings is $14.02 per share. William Blair also issued estimates for Watsco’s Q3 2023 earnings at $4.28 EPS and FY2024 earnings at $14.25 EPS.

Other equities research analysts have also recently issued reports about the company. StockNews.com started coverage on Watsco in a research note on Wednesday, October 12th. They issued a “hold” rating for the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Watsco from $284.00 to $294.00 in a research note on Monday, October 24th. Morgan Stanley lifted their price objective on Watsco from $217.00 to $218.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 12th. Finally, UBS Group initiated coverage on Watsco in a research note on Tuesday, January 10th. They set a “neutral” rating and a $280.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $294.17.

Watsco Stock Up 0.2 %

NYSE WSO opened at $275.46 on Monday. The stock has a fifty day moving average of $264.67 and a 200-day moving average of $266.47. The stock has a market capitalization of $10.67 billion, a P/E ratio of 19.85 and a beta of 0.89. Watsco has a 52 week low of $220.68 and a 52 week high of $311.86. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.09 and a current ratio of 2.57.

Watsco (NYSE:WSOGet Rating) last released its earnings results on Thursday, October 20th. The construction company reported $4.03 EPS for the quarter, missing the consensus estimate of $4.39 by ($0.36). The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2.03 billion. Watsco had a net margin of 7.53% and a return on equity of 25.19%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in WSO. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Watsco by 66.9% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 516,314 shares of the construction company’s stock worth $123,306,000 after acquiring an additional 207,046 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Watsco by 193.8% in the third quarter. Baird Financial Group Inc. now owns 287,532 shares of the construction company’s stock valued at $74,028,000 after purchasing an additional 189,668 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Watsco by 9.8% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,715,254 shares of the construction company’s stock valued at $409,638,000 after purchasing an additional 152,610 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Watsco by 38.7% in the second quarter. Wells Fargo & Company MN now owns 532,869 shares of the construction company’s stock valued at $127,259,000 after purchasing an additional 148,637 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Watsco by 45.8% in the third quarter. Raymond James & Associates now owns 368,127 shares of the construction company’s stock valued at $94,778,000 after purchasing an additional 115,697 shares in the last quarter. 84.73% of the stock is currently owned by institutional investors.

Watsco Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Tuesday, January 17th will be issued a dividend of $2.45 per share. The ex-dividend date of this dividend is Friday, January 13th. This is a positive change from Watsco’s previous quarterly dividend of $2.20. This represents a $9.80 annualized dividend and a yield of 3.56%. Watsco’s payout ratio is currently 63.40%.

Watsco Company Profile

(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.

Recommended Stories

Earnings History and Estimates for Watsco (NYSE:WSO)

Receive News & Ratings for Watsco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco and related companies with MarketBeat.com's FREE daily email newsletter.