FY2024 EPS Estimates for Watsco, Inc. (NYSE:WSO) Raised by Analyst

Watsco, Inc. (NYSE:WSO) – Analysts at William Blair boosted their FY2024 EPS estimates for Watsco in a note issued to investors on Wednesday, April 24th. William Blair analyst R. Merkel now anticipates that the construction company will earn $15.44 per share for the year, up from their prior estimate of $15.40. The consensus estimate for Watsco’s current full-year earnings is $14.25 per share. William Blair also issued estimates for Watsco’s FY2025 earnings at $18.74 EPS.

A number of other research firms have also weighed in on WSO. Robert W. Baird increased their target price on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday. Stephens reissued an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research note on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $404.25.

Watsco Stock Performance

Watsco stock opened at $443.21 on Monday. The company has a current ratio of 2.92, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. The firm has a 50-day moving average of $412.36 and a 200-day moving average of $399.74. The firm has a market cap of $17.51 billion, a P/E ratio of 34.09 and a beta of 0.90. Watsco has a 1-year low of $315.17 and a 1-year high of $451.29.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share for the quarter, missing analysts’ consensus estimates of $2.26 by ($0.09). The firm had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.83 earnings per share.

Hedge Funds Weigh In On Watsco

Institutional investors have recently bought and sold shares of the stock. Trueblood Wealth Management LLC increased its stake in shares of Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after purchasing an additional 32 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in shares of Watsco by 5.3% during the first quarter. Conestoga Capital Advisors LLC now owns 81,097 shares of the construction company’s stock valued at $35,031,000 after purchasing an additional 4,090 shares in the last quarter. SlateStone Wealth LLC increased its stake in shares of Watsco by 3.9% during the first quarter. SlateStone Wealth LLC now owns 1,803 shares of the construction company’s stock valued at $779,000 after purchasing an additional 68 shares in the last quarter. SYSTM Wealth Solutions LLC increased its stake in shares of Watsco by 11.6% during the first quarter. SYSTM Wealth Solutions LLC now owns 7,734 shares of the construction company’s stock valued at $3,341,000 after purchasing an additional 806 shares in the last quarter. Finally, Shaker Investments LLC OH increased its stake in shares of Watsco by 0.3% during the first quarter. Shaker Investments LLC OH now owns 7,564 shares of the construction company’s stock valued at $3,267,000 after purchasing an additional 24 shares in the last quarter. 89.71% of the stock is owned by institutional investors.

Watsco Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a $2.70 dividend. This is an increase from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date is Friday, April 12th. Watsco’s dividend payout ratio is presently 83.08%.

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.