Q2 2023 EPS Estimates for Watsco, Inc. Cut by Analyst (NYSE:WSO)

Posted by Defense World Staff on Apr 24th, 2023

Watsco, Inc. (NYSE:WSO – Get Rating) – William Blair lowered their Q2 2023 earnings per share estimates for Watsco in a research report issued on Thursday, April 20th. William Blair analyst R. Merkel now forecasts that the construction company will post earnings per share of $5.08 for the quarter, down from their prior estimate of $5.09. The consensus estimate for Watsco’s current full-year earnings is $14.02 per share. William Blair also issued estimates for Watsco’s Q3 2023 earnings at $4.29 EPS, FY2023 earnings at $14.50 EPS and FY2024 earnings at $15.00 EPS.

Several other research firms have also recently weighed in on WSO. UBS Group initiated coverage on Watsco in a research report on Tuesday, January 10th. They issued a “neutral” rating and a $280.00 price objective on the stock. KeyCorp boosted their price objective on Watsco from $365.00 to $380.00 in a research report on Friday. Robert W. Baird boosted their target price on Watsco from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. StockNews.com began coverage on Watsco in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Morgan Stanley upped their target price on Watsco from $269.00 to $289.00 in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $328.83.

Watsco Stock Down 1.3 %

WSO stock opened at $338.42 on Monday. The stock’s fifty day simple moving average is $308.60 and its two-hundred day simple moving average is $282.20. The company has a current ratio of 2.73, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. Watsco has a 1-year low of $220.68 and a 1-year high of $356.60. The stock has a market cap of $13.14 billion, a P/E ratio of 22.06 and a beta of 0.91.

Watsco (NYSE:WSO – Get Rating) last announced its earnings results on Thursday, April 20th. The construction company reported $2.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.58. Watsco had a return on equity of 24.40% and a net margin of 8.19%. The company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter in the previous year, the firm earned $2.90 earnings per share. Watsco’s quarterly revenue was up 1.7% on a year-over-year basis.

Watsco Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Monday, April 17th will be given a $2.45 dividend. This represents a $9.80 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Friday, April 14th. Watsco’s dividend payout ratio is currently 63.89%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Baskin Financial Services Inc. raised its position in shares of Watsco by 3.5% in the 1st quarter. Baskin Financial Services Inc. now owns 59,913 shares of the construction company’s stock worth $19,062,000 after acquiring an additional 2,036 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Watsco by 6.2% during the 1st quarter. GHP Investment Advisors Inc. now owns 14,239 shares of the construction company’s stock valued at $4,530,000 after buying an additional 825 shares in the last quarter. Princeton Global Asset Management LLC increased its position in Watsco by 55.8% during the 1st quarter. Princeton Global Asset Management LLC now owns 16,770 shares of the construction company’s stock valued at $5,335,000 after buying an additional 6,006 shares in the last quarter. Avestar Capital LLC increased its position in Watsco by 3.3% during the 1st quarter. Avestar Capital LLC now owns 1,426 shares of the construction company’s stock valued at $454,000 after buying an additional 45 shares in the last quarter. Finally, Perfromance Wealth Partners LLC purchased a new stake in Watsco during the 1st quarter valued at $466,000. Institutional investors own 84.73% of the company’s stock.

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.