FY2024 Earnings Forecast for Watsco Issued By Zacks Research

Watsco, Inc. (NYSE:WSO) – Equities research analysts at Zacks Research dropped their FY2024 earnings estimates for Watsco in a research report issued on Wednesday, November 13th. Zacks Research analyst R. Department now forecasts that the construction company will post earnings of $12.85 per share for the year, down from their prior estimate 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.

Several other analysts have also weighed in on the stock. Robert W. Baird lowered their target price on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their price target on shares of Watsco from $420.00 to $425.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st.

Watsco Price Performance

WSO stock opened at $520.74 on Friday. Watsco has a 1-year low of $373.33 and a 1-year high of $545.49. The firm has a fifty day moving average price of $492.47 and a two-hundred day moving average price of $482.23. The firm has a market cap of $21.03 billion, a price-to-earnings ratio of 40.24 and a beta of 0.88.

Watsco (NYSE:WSO) last released 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). Watsco had a net margin of 6.99% and a return on equity of 17.77%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the firm earned $4.35 EPS. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis.

Watsco Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Wednesday, October 16th were issued a $2.70 dividend. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend was Wednesday, October 16th. Watsco’s payout ratio is 83.46%.

Institutional Trading of Watsco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in shares of Watsco in the 2nd quarter valued at about $26,000. EntryPoint Capital LLC increased its holdings in shares of Watsco by 100.0% in the 1st quarter. EntryPoint Capital LLC now owns 58 shares of the construction company’s stock valued at $25,000 after purchasing an additional 29 shares during the period. Tortoise Investment Management LLC increased its holdings in shares of Watsco by 76.2% in the 2nd quarter. Tortoise Investment Management LLC now owns 74 shares of the construction company’s stock valued at $34,000 after purchasing an additional 32 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of Watsco in the 3rd quarter valued at about $43,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in Watsco by 30.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 94 shares of the construction company’s stock worth $46,000 after buying an additional 22 shares during the last quarter. Institutional investors and hedge funds 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.