Watsco Inc. Reaches New 12-Month High at $98.13 (WSO)
Watsco (NYSE:WSO)’s share price reached a new 52-week high during mid-day trading on Wednesday, ARN reports. The stock traded as high as $98.13 and last traded at $95.83, with a volume of 246,567 shares traded. The stock had previously closed at $97.47.
WSO has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Watsco in a research note to investors on Thursday, October 17th. They now have a $99.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Watsco from $94.00 to $93.00 in a research note to investors on Thursday, October 17th. They now have an “underweight” rating on the stock. Finally, 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. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $97.11.
Watsco has a 52 week low of $64.85 and a 52 week high of $97.61. The stock’s 50-day moving average is $91.37 and its 200-day moving average is $86.44. The company has a market cap of $3.092 billion and a P/E ratio of 29.68.
Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, October 16th. The company reported $1.32 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.43 by $0.11. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts expect that Watsco will post $3.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Thursday, October 10th. This is a boost from Watsco’s previous quarterly dividend of $0.25.
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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