Watsco (WSO) Projected to Post Earnings on Tuesday

Watsco (NYSE:WSO) will likely be announcing its earnings results before the market opens on Tuesday, February 18th. Analysts expect the company to announce earnings of $2.13 per share and revenue of $1.67 billion for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Watsco Price Performance

Watsco stock opened at $468.16 on Tuesday. The firm has a market cap of $18.91 billion, a price-to-earnings ratio of 36.18 and a beta of 0.95. The firm has a fifty day moving average price of $489.99 and a two-hundred day moving average price of $491.64. Watsco has a fifty-two week low of $373.33 and a fifty-two week high of $571.41.

Watsco Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $2.70 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $10.80 annualized dividend and a dividend yield of 2.31%. Watsco’s dividend payout ratio is presently 83.46%.

Insider Buying and Selling

In other news, EVP Barry S. Logan sold 10,998 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $508.21, for a total transaction of $5,589,293.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 12.86% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WSO has been the topic of several recent analyst reports. Northcoast Research began coverage on Watsco in a research report on Friday, November 22nd. They issued a “neutral” rating on the stock. Robert W. Baird cut their price objective on shares of Watsco from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Raymond James initiated coverage on Watsco in a research note on Friday, January 17th. They set a “market perform” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $488.33.

About Watsco

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.