Watsco, Inc. (NYSE:WSO) to Post Q3 2022 Earnings of $4.21 Per Share, Zacks Research Forecasts

Watsco, Inc. (NYSE:WSOGet Rating) – Equities researchers at Zacks Research issued their Q3 2022 EPS estimates for Watsco in a research note issued to investors on Thursday, September 15th. Zacks Research analyst S. Mukherjee anticipates that the construction company will post earnings of $4.21 per share for the quarter. The consensus estimate for Watsco’s current full-year earnings is $14.50 per share. Zacks Research also issued estimates for Watsco’s Q4 2022 earnings at $2.17 EPS, FY2022 earnings at $14.22 EPS, Q1 2023 earnings at $2.84 EPS, Q2 2023 earnings at $3.98 EPS, Q3 2023 earnings at $3.75 EPS, Q4 2023 earnings at $2.75 EPS, FY2023 earnings at $13.32 EPS, Q1 2024 earnings at $2.78 EPS, Q2 2024 earnings at $3.86 EPS and FY2024 earnings at $13.28 EPS.

Watsco (NYSE:WSOGet Rating) last issued its quarterly earnings data on Tuesday, July 26th. The construction company reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.82 by $0.11. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.15 billion. Watsco had a return on equity of 25.27% and a net margin of 7.56%. The business’s revenue was up 15.4% on a year-over-year basis. During the same period last year, the business earned $3.71 earnings per share.

Other equities analysts have also issued research reports about the company. Morgan Stanley increased their target price on Watsco from $204.00 to $217.00 and gave the company an “underweight” rating in a research note on Thursday, September 1st. Stephens lowered their price target on shares of Watsco to $350.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Watsco in a research report on Wednesday, August 17th. They issued a “hold” rating and a $311.00 price objective for the company. Robert W. Baird raised shares of Watsco from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $350.00 to $313.00 in a research report on Thursday, July 14th. Finally, KeyCorp raised their target price on shares of Watsco from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $300.20.

Watsco Stock Performance

Shares of NYSE:WSO opened at $269.93 on Monday. Watsco has a twelve month low of $220.68 and a twelve month high of $318.98. The firm has a market cap of $10.52 billion, a PE ratio of 20.04 and a beta of 0.92. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.08 and a current ratio of 2.47. The business has a fifty day moving average of $275.51 and a 200-day moving average of $271.55.

Watsco Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were issued a $2.20 dividend. This represents a $8.80 dividend on an annualized basis and a dividend yield of 3.26%. The ex-dividend date was Thursday, July 14th. Watsco’s payout ratio is 65.33%.

Institutional Investors Weigh In On Watsco

A number of institutional investors have recently added to or reduced their stakes in the stock. TrinityPoint Wealth LLC raised its holdings in shares of Watsco by 1.8% in the second quarter. TrinityPoint Wealth LLC now owns 2,031 shares of the construction company’s stock worth $485,000 after buying an additional 36 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in shares of Watsco by 1.3% in the second quarter. Crossmark Global Holdings Inc. now owns 3,044 shares of the construction company’s stock valued at $727,000 after acquiring an additional 40 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in Watsco by 2.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 1,887 shares of the construction company’s stock valued at $590,000 after purchasing an additional 42 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Watsco by 0.5% during the 1st quarter. State of Michigan Retirement System now owns 8,383 shares of the construction company’s stock worth $2,554,000 after buying an additional 42 shares during the last quarter. Finally, Lindenwold Advisors increased its holdings in shares of Watsco by 1.2% in the 2nd quarter. Lindenwold Advisors now owns 3,537 shares of the construction company’s stock valued at $845,000 after acquiring an additional 43 shares during the period. 82.38% of the stock is owned by hedge funds and other institutional investors.

About Watsco

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Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, refrigeration equipment, and related parts and supplies. The company distributes equipment comprising 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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Earnings History and Estimates for Watsco (NYSE:WSO)

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