Watsco Stock Earnings Estimates Decreased by Zacks Research

Watsco, Inc. (NYSE:WSO) – Research analysts at Zacks Research cut their Q3 2028 EPS estimates for shares of Watsco in a note issued to investors on Wednesday, September 23rd. Zacks Research analyst Team now anticipates that the construction company will earn $5.20 per share for the quarter, down from their previous forecast of $5.24. Zacks Research has a “Strong Sell” rating on the stock. The consensus estimate for Watsco’s current full-year earnings is $12.21 per share.

A number of other research firms have also commented on WSO. Stephens reaffirmed an “overweight” rating and set a $485.00 price target on shares of Watsco in a research report on Monday, August 17th. Morgan Stanley lifted their price objective on Watsco from $370.00 to $405.00 and gave the stock an “equal weight” rating in a research report on Friday, July 10th. Robert W. Baird set a $400.00 target price on Watsco in a research note on Thursday, July 30th. Weiss Ratings restated a “hold (c)” rating on shares of Watsco in a report on Tuesday, September 22nd. Finally, DA Davidson dropped their price target on Watsco from $385.00 to $330.00 and set a “neutral” rating for the company in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $395.50.

Watsco Price Performance

NYSE WSO opened at $297.25 on Friday. The stock has a market capitalization of $12.26 billion, a PE ratio of 25.78 and a beta of 1.06. Watsco has a 1 year low of $295.75 and a 1 year high of $459.00. The business’s 50-day moving average is $315.96 and its 200 day moving average is $366.02.

Watsco (NYSE:WSO) last released its quarterly earnings data on Wednesday, July 29th. The construction company reported $4.00 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.41 by ($0.41). The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.14 billion. Watsco had a net margin of 6.53% and a return on equity of 14.40%. Watsco’s revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.52 EPS.

Institutional Trading of Watsco

Several large investors have recently bought and sold shares of WSO. Bank of America Corp DE increased its position in Watsco by 12.2% during the 1st quarter. Bank of America Corp DE now owns 239,606 shares of the construction company’s stock valued at $87,166,000 after buying an additional 26,003 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Watsco by 76.5% in the second quarter. Van ECK Associates Corp now owns 11,875 shares of the construction company’s stock worth $4,949,000 after acquiring an additional 5,147 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in Watsco in the second quarter worth $4,459,000. Amundi grew its stake in shares of Watsco by 5.4% in the second quarter. Amundi now owns 50,125 shares of the construction company’s stock worth $20,889,000 after acquiring an additional 2,558 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Watsco in the second quarter worth $5,731,000. 89.71% of the stock is owned by institutional investors.

Watsco Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be issued a $3.30 dividend. The ex-dividend date is Friday, October 16th. This represents a $13.20 annualized dividend and a yield of 4.4%. Watsco’s dividend payout ratio (DPR) is 114.48%.

Watsco Company Profile

Watsco, Inc (NYSE: WSO) is a distributor of heating, air conditioning and refrigeration equipment and related products. The company supplies residential and commercial contractors with air conditioners, heat pumps, furnaces, refrigeration systems, indoor air-quality products, controls, replacement parts and other installation supplies.

Watsco serves the replacement and new-construction markets through a network of distribution centers, branches, showrooms and e-commerce platforms. Its customers primarily include HVAC and refrigeration contractors, dealers and other industry professionals, while its products are sourced from major manufacturers and distributed under leading industry brands.

Founded in 1956, Watsco has expanded through organic growth and acquisitions to become one of the largest HVAC and refrigeration distributors in North America.