Watsco (WSO) Announces Quarterly Earnings Results, Misses Expectations By $0.11 EPS
Watsco (NYSE:WSO) issued its quarterly earnings data on Wednesday. The company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by $0.11, Stock Ratings Network reports. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion.
Watsco (NYSE:WSO) opened at 94.38 on Wednesday. Watsco has a 52-week low of $64.85 and a 52-week high of $97.61. The stock has a 50-day moving average of $92.50 and a 200-day moving average of $88.49. The company has a market cap of $3.037 billion and a P/E ratio of 29.92.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Watsco’s previous quarterly dividend of $0.25.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird reiterated a “buy” rating on shares of Watsco in a research note to investors on Monday, October 7th. They now have a $113.00 price target on the stock. On a related note, analysts at Barclays raised their price target on shares of Watsco from $81.00 to $89.00 in a research note to investors on Monday, October 7th. They now have an “underweight” rating on the stock. Finally, analysts at Goldman Sachs Group Inc. initiated coverage on shares of Watsco in a research note to investors on Tuesday, October 1st. They set a “neutral” rating and a $98.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $94.44.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.