Watsco Inc. Announces Quarterly Dividend of $0.40 (WSO)
Watsco (NYSE:WSO) announced a quarterly dividend on Wednesday, October 2nd, AnalystRatingsNetwork.com reports. Investors of record on Tuesday, October 15th will be paid a dividend of $0.40 per share on Thursday, October 31st. This represents a $1.60 annualized dividend and a dividend yield of 1.70%.
A number of analysts have recently weighed in on WSO shares. Analysts at Goldman Sachs Group Inc. initiated coverage on shares of Watsco (NYSE:WSO) in a research note to investors on Tuesday. They set a “neutral” rating and a $98.00 price target on the stock. On a related note, analysts at Robert W. Baird upgraded shares of Watsco (NYSE:WSO) from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, September 26th. They now have a $113.00 price target on the stock, up previously from $100.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Watsco (NYSE:WSO) in a research note to investors on Tuesday, September 17th. They now have a $96.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $92.89.
Watsco (NYSE:WSO) opened at 93.99 on Wednesday. Watsco has a 1-year low of $64.85 and a 1-year high of $97.61. The stock’s 50-day moving average is $91.29 and its 200-day moving average is $87.72. The company has a market cap of $3.025 billion and a P/E ratio of 29.80.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Thursday, July 18th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.08. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $1.15 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. Analysts expect that Watsco will post $3.78 EPS for the current fiscal year.
Watsco, Inc(NYSE:WSO) is the distributor of air conditioning, heating and refrigeration equipment and related parts and supplies (HVAC/R) in the HVAC/R distribution industry.
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