Watsco (WSO) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS
Watsco (NYSE:WSO) announced its earnings results on Thursday. The company reported $1.60 EPS for the quarter, missing the Thomson Reuters consensus estimate of $1.70 by $0.10, AnalystRatingsNetwork.com reports. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the company posted $1.48 earnings per share.
A number of analysts have recently weighed in on WSO shares. Analysts at Zacks reiterated a “neutral” rating on shares of Watsco in a research note on Friday, May 30th. They now have a $106.00 price target on the stock. On a related note, analysts at Morgan Stanley initiated coverage on shares of Watsco in a research note on Tuesday, May 13th. They set an “equal weight” rating and a $111.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Watsco has an average rating of “Hold” and a consensus price target of $106.33.
Shares of Watsco (NYSE:WSO) opened at 97.49 on Thursday. Watsco has a 52-week low of $86.98 and a 52-week high of $105.39. The stock has a 50-day moving average of $101.2 and a 200-day moving average of $98.95. The company has a market cap of $3.144 billion and a price-to-earnings ratio of 26.16.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, July 11th. This is a boost from Watsco’s previous quarterly dividend of $0.40.
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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