Watsco (NYSE:WSO) Releases Earnings Results, Misses Expectations By $0.09 EPS

Watsco (NYSE:WSO - Get Free Report) issued its quarterly earnings results on Wednesday. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09), Briefing.com reports. Watsco had a net margin of 7.36% and a return on equity of 21.36%. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the firm posted $2.83 earnings per share. Watsco's quarterly revenue was up .9% compared to the same quarter last year.

Watsco Trading Up 0.7 %

NYSE:WSO traded up $3.23 during midday trading on Thursday, reaching $443.83. 482,385 shares of the stock traded hands, compared to its average volume of 348,324. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.47 and a current ratio of 3.36. Watsco has a 12 month low of $315.17 and a 12 month high of $451.29. The stock has a market capitalization of $17.53 billion, a P/E ratio of 32.78 and a beta of 0.90. The company has a fifty day moving average of $410.19 and a 200 day moving average of $399.13.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be issued a dividend of $2.70 per share. This is a positive change from Watsco's previous quarterly dividend of $2.45. This represents a $10.80 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Friday, April 12th. Watsco's dividend payout ratio is currently 79.06%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WSO shares. Robert W. Baird upped their target price on Watsco from $420.00 to $460.00 and gave the stock an "outperform" rating in a research report on Thursday. Stephens restated an "overweight" rating and issued a $500.00 price objective on shares of Watsco in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Watsco presently has an average rating of "Hold" and a consensus price target of $404.25.

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.