Watsco, Inc. Plans Quarterly Dividend of $3.00 (NYSE:WSO)

Key Points

• Watsco, Inc. declared a quarterly dividend of $3.00 per share, payable on October 31st to investors of record on October 16th, yielding 3.0% annually.
• The company has a dividend payout ratio of 77.6%, indicating earnings currently cover dividends, but future performance may affect this coverage.
• Watsco reported a net margin of 7.08% and revenue of $2.06 billion for the last quarter, which was below consensus estimates.

Watsco, Inc. (NYSE:WSO - Get Free Report) declared a quarterly dividend on Wednesday, October 1st, RTT News reports. Investors of record on Thursday, October 16th will be paid a dividend of 3.00 per share by the construction company on Friday, October 31st. This represents a c) dividend on an annualized basis and a yield of 3.0%.

Watsco has a dividend payout ratio of 77.6% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities research analysts expect Watsco to earn $16.05 per share next year, which means the company should continue to be able to cover its $12.00 annual dividend with an expected future payout ratio of 74.8%.

Watsco Price Performance

NYSE WSO traded up $0.10 during mid-day trading on Wednesday, reaching $404.40. 47,260 shares of the stock were exchanged, compared to its average volume of 324,439. Watsco has a one year low of $378.35 and a one year high of $571.41. The stock has a 50 day simple moving average of $415.05 and a 200-day simple moving average of $450.94. The stock has a market cap of $16.40 billion, a P/E ratio of 30.89 and a beta of 0.95.

Watsco (NYSE:WSO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The construction company reported $4.52 earnings per share for the quarter, missing analysts' consensus estimates of $4.84 by ($0.32). Watsco had a return on equity of 16.96% and a net margin of 7.08%.The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the business earned $4.49 EPS. Watsco's quarterly revenue was down 3.6% on a year-over-year basis. Sell-side analysts anticipate that Watsco will post 14.62 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.