FY2024 Earnings Estimate for Watsco Issued By Zacks Research

Watsco, Inc. (NYSE:WSO - Free Report) - Analysts at Zacks Research lowered their FY2024 EPS estimates for shares of Watsco in a research note issued on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the construction company will earn $12.85 per share for the year, down from their prior estimate of $13.72. The consensus estimate for Watsco's current full-year earnings is $13.20 per share. Zacks Research also issued estimates for Watsco's FY2025 earnings at $14.48 EPS, Q3 2026 earnings at $5.35 EPS and FY2026 earnings at $15.89 EPS.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird dropped their price target on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price target on Watsco from $420.00 to $425.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st.

Watsco Stock Down 1.0 %

NYSE:WSO traded down $5.05 on Friday, reaching $520.74. The stock had a trading volume of 142,510 shares, compared to its average volume of 284,015. The company has a market capitalization of $21.03 billion, a P/E ratio of 40.12 and a beta of 0.88. The stock has a fifty day moving average price of $491.03 and a 200-day moving average price of $481.73. Watsco has a 1-year low of $373.33 and a 1-year high of $545.49.

Watsco (NYSE:WSO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same period in the previous year, the company posted $4.35 earnings per share. The company's quarterly revenue was up 1.6% on a year-over-year basis.

Watsco Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.07%. The ex-dividend date was Wednesday, October 16th. Watsco's dividend payout ratio is 83.46%.

Institutional Trading of Watsco

Several institutional investors and hedge funds have recently added to or reduced their stakes in WSO. EntryPoint Capital LLC raised its stake in shares of Watsco by 100.0% during the first quarter. EntryPoint Capital LLC now owns 58 shares of the construction company's stock worth $25,000 after buying an additional 29 shares during the last quarter. Quarry LP acquired a new stake in Watsco during the 2nd quarter worth $26,000. Tortoise Investment Management LLC raised its position in shares of Watsco by 76.2% during the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company's stock valued at $34,000 after acquiring an additional 32 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Watsco in the 3rd quarter valued at $43,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Watsco by 30.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company's stock worth $46,000 after purchasing an additional 22 shares during the last quarter. 89.71% of the stock is owned by institutional investors.

About Watsco

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.