Watsco (WSO) Set to Announce Quarterly Earnings on Wednesday

Watsco (NYSE:WSO) will announce its earnings results before the market opens on Wednesday, April 24th. Analysts expect the company to announce earnings of $2.30 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Watsco (NYSE:WSO) last announced its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.44). The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. The firm’s quarterly revenue was up 1.4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS. On average, analysts expect Watsco to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

Watsco Stock Up 0.2 %

Shares of NYSE:WSO opened at $413.33 on Wednesday. Watsco has a 12-month low of $310.20 and a 12-month high of $447.49. The company has a quick ratio of 1.47, a current ratio of 3.36 and a debt-to-equity ratio of 0.01. The business’s 50 day moving average is $409.11 and its 200 day moving average is $397.98. The stock has a market cap of $16.33 billion, a price-to-earnings ratio of 30.26 and a beta of 0.89.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $2.70 dividend. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.61%. Watsco’s dividend payout ratio (DPR) is 79.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WSO. Price T Rowe Associates Inc. MD grew its holdings in shares of Watsco by 0.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 130,706 shares of the construction company’s stock worth $56,005,000 after purchasing an additional 779 shares during the last quarter. SageView Advisory Group LLC bought a new position in Watsco during the 4th quarter worth about $321,000. O Dell Group LLC bought a new position in Watsco during the 4th quarter worth about $45,000. Public Employees Retirement System of Ohio grew its holdings in Watsco by 9.2% during the 4th quarter. Public Employees Retirement System of Ohio now owns 17,574 shares of the construction company’s stock worth $7,530,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Watsco by 1.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 3,584 shares of the construction company’s stock worth $1,535,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Ratings Changes

Separately, Robert W. Baird upped their target price on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $396.00.

Watsco Company Profile

Watsco, Inc, together with its subsidiaries, engages in the distribution of air conditioning, heating, refrigeration equipment, and related parts and supplies in the United States and internationally. The company distributes equipment, including residential ducted and ductless air conditioners, such as gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.