Q3 2024 Earnings Estimate for Watsco, Inc. Issued By Zacks Research (NYSE:WSO)

Watsco, Inc. (NYSE:WSO - Free Report) - Stock analysts at Zacks Research upped their Q3 2024 earnings estimates for Watsco in a research note issued on Monday, April 15th. Zacks Research analyst R. Department now expects that the construction company will post earnings per share of $4.80 for the quarter, up from their prior forecast of $4.69. The consensus estimate for Watsco's current full-year earnings is $14.17 per share. Zacks Research also issued estimates for Watsco's FY2024 earnings at $14.08 EPS, Q2 2025 earnings at $4.86 EPS, Q3 2025 earnings at $5.00 EPS and FY2025 earnings at $16.13 EPS.

Watsco (NYSE:WSO - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.44). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a return on equity of 21.36% and a net margin of 7.36%. The company's revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.35 earnings per share.

Separately, Robert W. Baird boosted their price objective on shares of Watsco from $400.00 to $410.00 and gave the company an "outperform" rating in a research report on Wednesday, February 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Watsco currently has an average rating of "Hold" and a consensus target price of $396.00.

Watsco Trading Down 2.3 %

Shares of NYSE WSO traded down $9.43 during midday trading on Wednesday, reaching $403.94. 249,433 shares of the stock were exchanged, compared to its average volume of 338,873. The business has a 50-day simple moving average of $409.14 and a two-hundred day simple moving average of $398.02. The company has a market capitalization of $15.96 billion, a price-to-earnings ratio of 29.57 and a beta of 0.90. Watsco has a 12 month low of $313.27 and a 12 month high of $447.49. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.36 and a quick ratio of 1.47.

Watsco Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be paid a $2.70 dividend. This is a positive change from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Friday, April 12th. Watsco's payout ratio is presently 79.06%.

Institutional Investors Weigh In On Watsco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hartford Financial Management Inc. increased its stake in Watsco by 53.1% in the 4th quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company's stock valued at $32,000 after buying an additional 26 shares during the last quarter. Advisor OS LLC increased its stake in shares of Watsco by 1.1% during the 3rd quarter. Advisor OS LLC now owns 2,693 shares of the construction company's stock worth $1,017,000 after purchasing an additional 28 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in shares of Watsco by 35.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company's stock worth $41,000 after purchasing an additional 28 shares during the last quarter. Lindbrook Capital LLC increased its stake in shares of Watsco by 53.8% during the 4th quarter. Lindbrook Capital LLC now owns 80 shares of the construction company's stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Lincoln National Corp increased its stake in shares of Watsco by 4.0% during the 4th quarter. Lincoln National Corp now owns 728 shares of the construction company's stock worth $312,000 after purchasing an additional 28 shares during the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.