Watsco (NYSE:WSO) Releases Earnings Results, Beats Expectations By $0.24 EPS

Watsco (NYSE:WSO - Get Free Report) posted its quarterly earnings results on Tuesday. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.13 by $0.24, Zacks reports. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.67 billion. Watsco had a net margin of 7.04% and a return on equity of 17.59%.

Watsco Price Performance

NYSE:WSO traded down $17.09 during trading hours on Friday, hitting $498.12. The company had a trading volume of 286,029 shares, compared to its average volume of 248,613. The company has a market capitalization of $20.11 billion, a PE ratio of 37.59 and a beta of 0.95. The stock has a 50-day moving average price of $484.75 and a 200 day moving average price of $492.16. Watsco has a 52 week low of $380.58 and a 52 week high of $571.41.

Watsco Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were issued a $2.70 dividend. This represents a $10.80 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, January 17th. Watsco's dividend payout ratio (DPR) is currently 81.51%.

Analyst Upgrades and Downgrades

Several research analysts have commented on WSO shares. Raymond James started coverage on shares of Watsco in a research note on Friday, January 17th. They set a "market perform" rating on the stock. Robert W. Baird raised their target price on shares of Watsco from $540.00 to $560.00 and gave the stock an "outperform" rating in a report on Wednesday. Finally, Northcoast Research started coverage on shares of Watsco in a report on Friday, November 22nd. They issued a "neutral" rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Watsco presently has a consensus rating of "Hold" and a consensus target price of $495.00.

Insider Activity at Watsco

In related news, EVP Barry S. Logan sold 10,998 shares of Watsco stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $508.21, for a total value of $5,589,293.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 12.86% of the stock is currently owned by company insiders.

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.