Q1 2024 EPS Estimates for Watsco, Inc. Decreased by Analyst (NYSE:WSO)

Watsco, Inc. (NYSE:WSO) – Investment analysts at Zacks Research cut their Q1 2024 earnings per share estimates for shares of Watsco in a report issued on Monday, April 15th. Zacks Research analyst R. Department now forecasts that the construction company will post earnings of $2.23 per share for the quarter, down from their prior estimate of $2.31. The consensus estimate for Watsco’s current full-year earnings is $14.17 per share. Zacks Research also issued estimates for Watsco’s Q2 2024 earnings at $4.85 EPS, Q4 2024 earnings at $2.20 EPS, Q1 2025 earnings at $2.97 EPS, Q4 2025 earnings at $3.29 EPS, Q1 2026 earnings at $3.59 EPS and FY2026 earnings at $17.96 EPS.

Separately, Robert W. Baird upped their target price on Watsco from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $396.00.

Watsco Price Performance

Shares of NYSE:WSO opened at $413.33 on Tuesday. Watsco has a 12 month low of $310.20 and a 12 month high of $447.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47. The business’s 50 day simple moving average is $409.11 and its 200-day simple moving average is $397.98. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 30.26 and a beta of 0.89.

Watsco (NYSE:WSO) last announced its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.44). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. Watsco’s revenue was up 1.4% compared to the same quarter last year. During the same period last year, the firm earned $2.35 EPS.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be given a $2.70 dividend. This is a boost from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio is presently 79.06%.

Hedge Funds Weigh In On Watsco

Several large investors have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. acquired a new stake in shares of Watsco in the fourth quarter valued at approximately $25,000. First PREMIER Bank acquired a new position in shares of Watsco during the first quarter valued at approximately $25,000. Contravisory Investment Management Inc. acquired a new position in shares of Watsco during the fourth quarter valued at approximately $26,000. Cullen Frost Bankers Inc. acquired a new position in shares of Watsco during the fourth quarter valued at approximately $28,000. Finally, Rise Advisors LLC purchased a new position in Watsco during the 4th quarter worth approximately $30,000. Institutional investors own 89.71% 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.