FY2024 Earnings Estimate for Watsco Issued By Zacks Research

Watsco, Inc. (NYSE:WSO) – Investment analysts at Zacks Research lowered their FY2024 EPS estimates for Watsco in a note issued to investors on Wednesday, November 13th. Zacks Research analyst R. Department now expects that the construction company will earn $12.85 per share for the year, down from their prior forecast of $13.72. The consensus estimate for Watsco’s current full-year earnings is $13.20 per share. Zacks Research also issued estimates for Watsco’s FY2025 earnings at $14.48 EPS, Q3 2026 earnings at $5.35 EPS and FY2026 earnings at $15.89 EPS.

A number of other research firms also recently commented on WSO. JPMorgan Chase & Co. upped their price target on Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Robert W. Baird decreased their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th.

Watsco Stock Performance

WSO opened at $525.37 on Friday. The stock has a market capitalization of $21.21 billion, a PE ratio of 40.60 and a beta of 0.88. Watsco has a one year low of $373.33 and a one year high of $545.49. The business’s 50 day moving average price is $491.03 and its 200 day moving average price is $481.73.

Watsco (NYSE:WSO) last posted its earnings results on Wednesday, October 23rd. The construction company reported $4.22 earnings per share for the quarter, missing the consensus estimate of $4.73 by ($0.51). The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.35 earnings per share.

Watsco Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Wednesday, October 16th were paid a $2.70 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a dividend yield of 2.06%. Watsco’s payout ratio is presently 83.46%.

Institutional Investors Weigh In On Watsco

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC grew its position in Watsco by 39.8% in the 1st quarter. SG Americas Securities LLC now owns 2,451 shares of the construction company’s stock valued at $1,059,000 after acquiring an additional 698 shares in the last quarter. Russell Investments Group Ltd. grew its position in Watsco by 1.9% in the 1st quarter. Russell Investments Group Ltd. now owns 16,773 shares of the construction company’s stock valued at $7,246,000 after acquiring an additional 320 shares in the last quarter. Entropy Technologies LP acquired a new position in Watsco in the 1st quarter valued at about $527,000. Koshinski Asset Management Inc. acquired a new position in Watsco in the 1st quarter valued at about $230,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Watsco by 15.0% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 18,215 shares of the construction company’s stock valued at $7,868,000 after acquiring an additional 2,373 shares in the last quarter. Hedge funds and other institutional investors own 89.71% of the company’s stock.

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.