Watsco (NYSE:WSO) Releases Earnings Results, Misses Estimates By $0.51 EPS

Posted by Anthony Miller on Oct 26th, 2024

Watsco (NYSE:WSO – Get Free Report) issued its quarterly earnings data on Wednesday. The construction company reported $4.22 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51), Briefing.com reports. The firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Watsco had a net margin of 7.02% and a return on equity of 18.55%. Watsco’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $4.35 EPS.

Watsco Stock Performance

NYSE:WSO opened at $475.90 on Friday. The company has a market capitalization of $19.18 billion, a price-to-earnings ratio of 36.61 and a beta of 0.88. The business has a 50 day moving average of $482.01 and a 200 day moving average of $473.54. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.21 and a quick ratio of 1.55. Watsco has a 1-year low of $340.52 and a 1-year high of $520.41.

Watsco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th will be given a dividend of $2.70 per share. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 annualized dividend and a dividend yield of 2.27%. Watsco’s dividend payout ratio (DPR) is presently 83.08%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday.

Check Out Our Latest Research Report on WSO

Watsco Company Profile

(Get Free Report)

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.