Watsco, Inc. (NYSE:WSO) Given Consensus Recommendation of "Hold" by Analysts

Watsco, Inc. (NYSE:WSO - Get Free Report) has earned a consensus recommendation of "Hold" from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $484.17.

Several equities analysts recently weighed in on WSO shares. UBS Group reduced their target price on shares of Watsco from $455.00 to $450.00 and set a "neutral" rating on the stock in a report on Wednesday, June 25th. Wall Street Zen upgraded Watsco from a "sell" rating to a "hold" rating in a report on Friday, May 9th. Mizuho set a $490.00 price objective on Watsco in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Watsco from $560.00 to $540.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Morgan Stanley set a $505.00 target price on Watsco in a report on Wednesday, July 2nd.

Watsco Price Performance

Watsco stock opened at $489.18 on Friday. The company has a market cap of $19.82 billion, a price-to-earnings ratio of 37.60 and a beta of 1.04. Watsco has a 12 month low of $418.31 and a 12 month high of $571.41. The stock's 50-day moving average is $453.17 and its 200-day moving average is $477.23.

Watsco (NYSE:WSO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $1.93 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.36). Watsco had a net margin of 6.98% and a return on equity of 17.13%. The business had revenue of $1.53 billion during the quarter, compared to analysts' expectations of $1.66 billion. During the same quarter in the previous year, the business posted $2.17 EPS. The company's quarterly revenue was down 2.2% on a year-over-year basis. Research analysts anticipate that Watsco will post 14.62 EPS for the current year.

Watsco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Wednesday, July 16th will be paid a dividend of $3.00 per share. This represents a $12.00 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, July 16th. Watsco's dividend payout ratio (DPR) is currently 92.24%.

Institutional Trading of Watsco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Watsco in the 1st quarter worth about $25,000. Manitou Investment Management Ltd. bought a new stake in Watsco in the first quarter valued at about $25,000. WPG Advisers LLC bought a new stake in Watsco in the first quarter valued at about $25,000. TCTC Holdings LLC raised its stake in Watsco by 115.4% during the first quarter. TCTC Holdings LLC now owns 56 shares of the construction company's stock valued at $28,000 after buying an additional 30 shares in the last quarter. Finally, City Holding Co. bought a new position in Watsco during the 1st quarter worth approximately $29,000. Institutional investors own 89.71% of the company's stock.

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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