Watsco (NYSE:WSO) Posts Earnings Results, Misses Expectations By $0.51 EPS

Watsco (NYSE:WSO - Get Free Report) posted its earnings results on Wednesday. The construction company reported $4.22 EPS for the quarter, missing analysts' consensus estimates of $4.73 by ($0.51), Briefing.com reports. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.24 billion. Watsco had a return on equity of 18.55% and a net margin of 7.02%. The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $4.35 earnings per share.

Watsco Stock Up 2.5 %

Shares of WSO traded up $11.74 during midday trading on Thursday, hitting $478.16. The company had a trading volume of 269,745 shares, compared to its average volume of 291,539. The stock has a market cap of $19.27 billion, a price-to-earnings ratio of 36.46 and a beta of 0.88. The company's 50 day moving average price is $481.95 and its 200 day moving average price is $473.28. The company has a quick ratio of 1.55, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco has a 52 week low of $338.58 and a 52 week high of $520.41.

Watsco Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th will be paid a dividend of $2.70 per share. The ex-dividend date of this dividend is Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.26%. Watsco's dividend payout ratio (DPR) is 83.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an "outperform" rating on the stock in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Watsco from $420.00 to $425.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st.

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.

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