Watsco, Inc. (NYSE:WSO) Expected to Earn Q3 2024 Earnings of $4.67 Per Share

Watsco, Inc. (NYSE:WSO - Free Report) - Investment analysts at KeyCorp issued their Q3 2024 earnings per share estimates for Watsco in a report released on Monday, October 14th. KeyCorp analyst J. Hammond expects that the construction company will earn $4.67 per share for the quarter. The consensus estimate for Watsco's current full-year earnings is $13.83 per share. KeyCorp also issued estimates for Watsco's Q4 2024 earnings at $2.16 EPS and FY2025 earnings at $14.75 EPS.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The construction company reported $4.49 EPS for the quarter, missing analysts' consensus estimates of $4.70 by ($0.21). Watsco had a net margin of 7.02% and a return on equity of 18.55%. The firm had revenue of $2.10 billion during the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the company posted $4.42 earnings per share. The company's revenue for the quarter was up 5.0% compared to the same quarter last year.

Several other brokerages have also commented on WSO. Robert W. Baird upped their target price on Watsco from $522.00 to $550.00 and gave the company an "outperform" rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a report on Wednesday, July 31st.

Watsco Trading Up 0.9 %

WSO traded up $4.29 during trading on Wednesday, reaching $494.61. 190,665 shares of the stock traded hands, compared to its average volume of 290,339. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. The stock's 50-day moving average is $480.15 and its 200 day moving average is $471.32. Watsco has a 12 month low of $338.58 and a 12 month high of $520.41. The stock has a market capitalization of $19.93 billion, a PE ratio of 38.05 and a beta of 0.88.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, October 16th. Watsco's dividend payout ratio is currently 83.08%.

Hedge Funds Weigh In On Watsco

Several large investors have recently added to or reduced their stakes in WSO. SageView Advisory Group LLC bought a new position in shares of Watsco during the fourth quarter valued at about $321,000. Vanguard Group Inc. boosted its stake in shares of Watsco by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 3,265,589 shares of the construction company's stock worth $1,399,207,000 after buying an additional 55,119 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Watsco by 3.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,522 shares of the construction company's stock valued at $6,651,000 after acquiring an additional 543 shares in the last quarter. HighPoint Advisor Group LLC purchased a new stake in shares of Watsco during the fourth quarter valued at approximately $201,000. Finally, CWM LLC lifted its holdings in Watsco by 38.3% during the first quarter. CWM LLC now owns 957 shares of the construction company's stock worth $413,000 after acquiring an additional 265 shares during the period. Institutional investors own 89.71% of the company's stock.

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.