William Blair Weighs in on Watsco, Inc.’s FY2024 Earnings (NYSE:WSO)

Watsco, Inc. (NYSE:WSO) – Equities research analysts at William Blair lifted their FY2024 EPS estimates for shares of Watsco in a research report issued to clients and investors on Wednesday, April 24th. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $15.44 for the year, up from their prior estimate 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.

Several other brokerages have also commented on WSO. Robert W. Baird boosted their price target on shares of Watsco from $420.00 to $460.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Stephens reiterated an “overweight” rating and set a $500.00 price target on shares of Watsco in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $404.25.

Watsco Trading Down 0.0 %

WSO stock opened at $447.72 on Monday. The company has a quick ratio of 1.31, a current ratio of 2.92 and a debt-to-equity ratio of 0.01. Watsco has a 52-week low of $315.17 and a 52-week high of $451.29. The company’s 50-day simple moving average is $413.68 and its 200-day simple moving average is $400.10. The firm has a market cap of $17.68 billion, a P/E ratio of 34.44 and a beta of 0.89.

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

Hedge Funds Weigh In On Watsco

Several hedge funds have recently bought and sold shares of the company. Benchmark Financial Wealth Advisors LLC purchased a new stake in Watsco during the fourth quarter worth about $536,000. Louisiana State Employees Retirement System purchased a new stake in Watsco during the 4th quarter worth approximately $4,070,000. Wellington Management Group LLP lifted its holdings in Watsco by 2.6% during the 3rd quarter. Wellington Management Group LLP now owns 648,662 shares of the construction company’s stock worth $245,013,000 after buying an additional 16,589 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Watsco in the 4th quarter valued at approximately $2,516,000. Finally, Hamlin Capital Management LLC increased its position in shares of Watsco by 5.7% during the fourth quarter. Hamlin Capital Management LLC now owns 295,833 shares of the construction company’s stock worth $126,756,000 after acquiring an additional 16,006 shares during the period. Institutional investors and hedge funds own 89.71% of the company’s stock.

Watsco Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th were given a dividend of $2.70 per share. This is a positive change from Watsco’s previous quarterly dividend of $2.45. This represents a $10.80 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, April 12th. Watsco’s dividend payout ratio (DPR) is currently 83.08%.

About Watsco

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.