Watsco (WSO) Set to Announce Quarterly Earnings on Wednesday

Watsco (NYSE:WSO) will post its quarterly earnings results before the market opens on Wednesday, April 24th. Analysts expect Watsco to post earnings of $2.30 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.44). Watsco had a net margin of 7.36% and a return on equity of 21.36%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same period last year, the business posted $2.35 EPS. The firm’s revenue was up 1.4% compared to the same quarter last year. On average, analysts expect Watsco to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Watsco Stock Performance

Shares of WSO opened at $413.33 on Wednesday. Watsco has a 12 month low of $310.20 and a 12 month high of $447.49. The stock has a fifty day moving average price of $409.11 and a 200-day moving average price of $397.98. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The firm has a market cap of $16.33 billion, a PE ratio of 30.26 and a beta of 0.89.

Watsco Increases Dividend

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

Hedge Funds Weigh In On Watsco

Several institutional investors have recently modified their holdings of WSO. Acadian Asset Management LLC acquired a new position in shares of Watsco during the first quarter worth $38,000. Resurgent Financial Advisors LLC acquired a new position in Watsco in the fourth quarter valued at $39,000. Harbour Investments Inc. boosted its stake in Watsco by 55.1% in the first quarter. Harbour Investments Inc. now owns 138 shares of the construction company’s stock valued at $44,000 after acquiring an additional 49 shares in the last quarter. O Dell Group LLC acquired a new position in Watsco in the fourth quarter valued at $45,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in Watsco by 359.5% in the fourth quarter. Industrial Alliance Investment Management Inc. now owns 193 shares of the construction company’s stock valued at $48,000 after acquiring an additional 151 shares in the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.

Analysts Set New Price Targets

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

About Watsco

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.