The Watsco, Inc. (WSO) Posts Quarterly Earnings Results, Misses Expectations By $0.17 EPS

The Watsco, Inc. (WSO) Posts Quarterly  Earnings Results, Misses Expectations By $0.17 EPS

Watsco, Inc. (NYSE:WSO) posted its earnings results on Monday. The construction company reported $1.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.17), MarketWatch Earnings reports. Watsco had a net margin of 4.29% and a return on equity of 14.52%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the firm posted $1.78 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis.

Watsco (NYSE:WSO) traded up 1.23% during trading on Wednesday, reaching $165.14. The company’s stock had a trading volume of 520,355 shares. The stock has a market capitalization of $5.40 billion, a price-to-earnings ratio of 30.54 and a beta of 0.84. The firm has a 50 day moving average of $158.46 and a 200 day moving average of $149.06. Watsco has a 52 week low of $132.83 and a 52 week high of $165.96.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Monday, October 16th will be given a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend is Friday, October 13th. Watsco’s payout ratio is 93.11%.

WSO has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and issued a $154.00 target price on shares of Watsco in a report on Thursday, September 7th. Morgan Stanley boosted their price target on Watsco from $141.00 to $151.00 and gave the company an “underweight” rating in a research report on Monday, September 25th. BidaskClub cut Watsco from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Zacks Investment Research upgraded Watsco from a “hold” rating to a “buy” rating and set a $169.00 price target on the stock in a research report on Tuesday, August 1st. Finally, Robert W. Baird restated a “buy” rating and issued a $163.00 price target on shares of Watsco in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $159.40.

Watsco Company Profile

Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.

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