Brokers Offer Predictions for Watsco, Inc.’s Q2 2024 Earnings (NYSE:WSO)

Watsco, Inc. (NYSE:WSO) – Investment analysts at William Blair dropped their Q2 2024 EPS estimates for shares of Watsco in a report released on Thursday, April 11th. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $5.48 for the quarter, down from their previous estimate of $5.62. The consensus estimate for Watsco’s current full-year earnings is $14.17 per share.

Separately, Robert W. Baird lifted their price objective on shares of Watsco from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $396.00.

Watsco Stock Down 1.3 %

Shares of NYSE WSO opened at $412.45 on Monday. The firm has a market capitalization of $16.29 billion, a PE ratio of 30.19 and a beta of 0.89. The company has a current ratio of 3.36, a quick ratio of 1.47 and a debt-to-equity ratio of 0.01. Watsco has a 1 year low of $310.20 and a 1 year high of $447.49. The firm’s 50-day moving average is $408.73 and its 200-day moving average is $397.73.

Watsco (NYSE:WSO) last issued its earnings results on Tuesday, February 13th. The construction company reported $2.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.44). The business had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.65 billion. Watsco had a net margin of 7.36% and a return on equity of 21.36%. The firm’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same period last year, the business posted $2.35 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Hartford Financial Management Inc. raised its holdings in shares of Watsco by 53.1% in the fourth quarter. Hartford Financial Management Inc. now owns 75 shares of the construction company’s stock valued at $32,000 after purchasing an additional 26 shares during the last quarter. Advisor OS LLC increased its holdings in Watsco by 1.1% during the third quarter. Advisor OS LLC now owns 2,693 shares of the construction company’s stock worth $1,017,000 after buying an additional 28 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in Watsco by 35.0% during the third quarter. Raleigh Capital Management Inc. now owns 108 shares of the construction company’s stock worth $41,000 after buying an additional 28 shares during the last quarter. Lindbrook Capital LLC increased its holdings in Watsco by 53.8% during the fourth quarter. Lindbrook Capital LLC now owns 80 shares of the construction company’s stock worth $34,000 after buying an additional 28 shares during the last quarter. Finally, Lincoln National Corp increased its holdings in Watsco by 4.0% during the fourth quarter. Lincoln National Corp now owns 728 shares of the construction company’s stock worth $312,000 after buying an additional 28 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Watsco Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Monday, April 15th will be paid a dividend of $2.70 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.45. The ex-dividend date of this dividend is Friday, April 12th. This represents a $10.80 annualized dividend and a yield of 2.62%. Watsco’s dividend payout ratio (DPR) is presently 79.06%.

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.