Watsco, Inc. (NYSE:WSO - Free Report) - Analysts at William Blair decreased their FY2024 earnings estimates for Watsco in a report issued on Wednesday, October 23rd. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $12.75 for the year, down from their prior estimate of $13.74. The consensus estimate for Watsco's current full-year earnings is $13.43 per share. William Blair also issued estimates for Watsco's Q4 2024 earnings at $1.86 EPS, Q1 2025 earnings at $2.22 EPS, Q2 2025 earnings at $5.07 EPS, Q3 2025 earnings at $5.13 EPS, Q4 2025 earnings at $2.37 EPS and FY2025 earnings at $14.80 EPS.
Watsco (NYSE:WSO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.24 billion. During the same quarter in the previous year, the business earned $4.35 EPS. The company's revenue for the quarter was up 1.6% on a year-over-year basis.
Other equities research analysts have also issued research reports about the company. Robert W. Baird decreased their price objective on Watsco from $550.00 to $540.00 and set an "outperform" rating for the company in a report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st.
Check Out Our Latest Stock Analysis on WSO
Watsco Stock Performance
NYSE:WSO traded up $3.90 during trading hours on Monday, reaching $479.80. The stock had a trading volume of 167,267 shares, compared to its average volume of 290,218. Watsco has a 12-month low of $343.04 and a 12-month high of $520.41. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.65 and a current ratio of 3.36. The stock has a 50 day simple moving average of $482.08 and a 200 day simple moving average of $474.60. The stock has a market cap of $19.34 billion, a P/E ratio of 36.91 and a beta of 0.88.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Watsco by 48,984.7% in the third quarter. International Assets Investment Management LLC now owns 233,643 shares of the construction company's stock worth $114,924,000 after buying an additional 233,167 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in Watsco by 263.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 320,008 shares of the construction company's stock worth $138,234,000 after purchasing an additional 231,987 shares in the last quarter. Swedbank AB bought a new position in Watsco in the 1st quarter valued at $90,714,000. Vanguard Group Inc. grew its position in shares of Watsco by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 3,411,894 shares of the construction company's stock valued at $1,473,836,000 after purchasing an additional 146,305 shares in the last quarter. Finally, Jennison Associates LLC increased its holdings in shares of Watsco by 50.9% in the first quarter. Jennison Associates LLC now owns 185,633 shares of the construction company's stock worth $80,188,000 after purchasing an additional 62,593 shares during the period. Institutional investors own 89.71% of the company's stock.
Watsco Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Wednesday, October 16th will be issued a dividend of $2.70 per share. The ex-dividend date is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.25%. Watsco's dividend payout ratio (DPR) is 83.08%.
About Watsco
(
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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.
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