Watsco, Inc. (NYSE:WSO – Get Rating) – Research analysts at William Blair increased their Q1 2023 earnings per share (EPS) estimates for Watsco in a research report issued on Tuesday, April 11th. William Blair analyst R. Merkel now expects that the construction company will post earnings per share of $2.36 for the quarter, up from their prior forecast of $2.12. The consensus estimate for Watsco's current full-year earnings is $13.78 per share. William Blair also issued estimates for Watsco's Q1 2023 earnings at $2.36 EPS, Q2 2023 earnings at $5.09 EPS, Q2 2023 earnings at $5.09 EPS, Q3 2023 earnings at $4.30 EPS and Q3 2023 earnings at $4.30 EPS.
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Other equities research analysts have also issued research reports about the company. Robert W. Baird boosted their price target on Watsco from $323.00 to $350.00 and gave the stock an "outperform" rating in a research note on Friday, February 17th. KeyCorp increased their price target on shares of Watsco from $335.00 to $365.00 and gave the stock an "overweight" rating in a report on Friday, February 17th. StockNews.com assumed coverage on shares of Watsco in a report on Thursday, March 16th. They set a "hold" rating on the stock. Morgan Stanley increased their price target on shares of Watsco from $218.00 to $269.00 and gave the stock an "underweight" rating in a report on Wednesday, April 5th. Finally, UBS Group started coverage on shares of Watsco in a report on Tuesday, January 10th. They set a "neutral" rating and a $280.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $322.17.
Watsco Price Performance
WSO opened at $315.75 on Thursday. Watsco has a 1 year low of $220.68 and a 1 year high of $343.85. The firm has a market capitalization of $12.26 billion, a PE ratio of 20.49 and a beta of 0.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.54 and a quick ratio of 1.02. The business's 50-day moving average is $305.79 and its two-hundred day moving average is $279.43.
Watsco (NYSE:WSO – Get Rating) last posted its earnings results on Thursday, February 16th. The construction company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.23. Watsco had a return on equity of 25.17% and a net margin of 8.26%. The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The firm's quarterly revenue was up 4.6% compared to the same quarter last year.
Institutional Investors Weigh In On Watsco
Several hedge funds have recently made changes to their positions in WSO. Donaldson Capital Management LLC lifted its position in Watsco by 18.2% in the first quarter. Donaldson Capital Management LLC now owns 2,730 shares of the construction company's stock valued at $869,000 after purchasing an additional 420 shares during the period. Dudley & Shanley Inc. purchased a new position in Watsco in the first quarter valued at about $8,110,000. Hamlin Capital Management LLC purchased a new position in Watsco in the first quarter valued at about $64,598,000. Bath Savings Trust Co increased its holdings in Watsco by 3.9% in the first quarter. Bath Savings Trust Co now owns 39,345 shares of the construction company's stock valued at $12,518,000 after buying an additional 1,478 shares in the last quarter. Finally, Dfpg Investments LLC increased its holdings in Watsco by 12.3% in the first quarter. Dfpg Investments LLC now owns 2,787 shares of the construction company's stock valued at $887,000 after buying an additional 305 shares in the last quarter. Institutional investors and hedge funds own 84.73% of the company's stock.
Watsco Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Monday, April 17th will be issued a dividend of $2.45 per share. This represents a $9.80 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Friday, April 14th. Watsco's payout ratio is 63.60%.
About Watsco
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Watsco, Inc engages in the distribution of air conditioning, heating and refrigeration equipment, and related parts and supplies. Its products include residential central air conditioners, gas, electric & oil furnaces, commercial air conditioning and heating equipment, and other specialized equipment and parts, including replacement compressors, evaporator coils, motors and other component parts and supplies, including thermostats, insulation material, refrigerants, ductwork, grills, registers, sheet metal, tools, copper tubing, concrete pads, tape, adhesives, and other ancillary supplies.
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- Get a free copy of the StockNews.com research report on Watsco (WSO)
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