FY2024 Earnings Estimate for Watsco, Inc. (NYSE:WSO) Issued By William Blair

Watsco, Inc. (NYSE:WSO) – Equities research analysts at William Blair boosted their FY2024 earnings per share (EPS) estimates for shares of Watsco in a research note issued to investors on Wednesday, April 24th. William Blair analyst R. Merkel now anticipates that the construction company will post earnings of $15.44 per share for the year, up from their previous forecast of $15.40. The consensus estimate for Watsco’s current full-year earnings is $14.25 per share. William Blair also issued estimates for Watsco’s FY2025 earnings at $18.74 EPS.

Watsco (NYSE:WSO) last posted its quarterly earnings results on Wednesday, April 24th. The construction company reported $2.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.26 by ($0.09). The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.59 billion. Watsco had a return on equity of 19.26% and a net margin of 7.03%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $2.83 EPS.

WSO has been the topic of several other reports. Robert W. Baird upped their price target on Watsco from $420.00 to $460.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stephens reissued an “overweight” rating and issued a $500.00 price target on shares of Watsco in a research report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Watsco has a consensus rating of “Hold” and a consensus price target of $404.25.

Watsco Stock Up 1.0 %

Shares of NYSE:WSO opened at $447.64 on Monday. The firm has a 50 day simple moving average of $413.68 and a 200 day simple moving average of $400.10. The company has a market cap of $17.68 billion, a PE ratio of 34.43 and a beta of 0.89. Watsco has a 52 week low of $315.17 and a 52 week high of $451.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 2.92.

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 paid a $2.70 dividend. This is a boost 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 dividend yield of 2.41%. Watsco’s payout ratio is presently 83.08%.

Institutional Trading of Watsco

A number of institutional investors have recently added to or reduced their stakes in WSO. Commonwealth Equity Services LLC raised its holdings in shares of Watsco by 9.6% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,063 shares of the construction company’s stock valued at $5,643,000 after purchasing an additional 1,144 shares in the last quarter. Greenleaf Trust bought a new stake in Watsco in the first quarter worth $930,000. Phillips Wealth Planners LLC increased its position in Watsco by 3.6% during the first quarter. Phillips Wealth Planners LLC now owns 1,049 shares of the construction company’s stock worth $434,000 after buying an additional 36 shares during the last quarter. Trueblood Wealth Management LLC increased its stake in Watsco by 0.9% during the first quarter. Trueblood Wealth Management LLC now owns 3,603 shares of the construction company’s stock valued at $1,556,000 after acquiring an additional 32 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Watsco by 5.3% in the first quarter. Conestoga Capital Advisors LLC now owns 81,097 shares of the construction company’s stock valued at $35,031,000 after purchasing an additional 4,090 shares in the last quarter. 89.71% of the stock is currently owned by institutional investors and hedge funds.

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.