FY2024 Earnings Forecast for Watsco Issued By Zacks Research

Watsco, Inc. (NYSE:WSO) – Stock analysts at Zacks Research decreased their FY2024 EPS estimates for shares of Watsco in a report released on Wednesday, November 13th. Zacks Research analyst R. Department now anticipates 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.

Several other brokerages have also recently commented on WSO. Robert W. Baird reduced their price objective 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. raised their target price on shares of Watsco from $420.00 to $425.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Watsco Stock Down 1.0 %

Shares of NYSE WSO opened at $520.74 on Friday. Watsco has a 52 week low of $373.33 and a 52 week high of $545.49. The firm has a 50-day moving average price of $492.47 and a 200 day moving average price of $482.23. The stock has a market capitalization 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 EPS for the quarter, missing the consensus estimate of $4.73 by ($0.51). Watsco had a return on equity of 17.77% and a net margin of 6.99%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business posted $4.35 EPS. The firm’s revenue 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 given a dividend of $2.70 per share. The ex-dividend date was Wednesday, October 16th. This represents a $10.80 dividend on an annualized basis and a yield of 2.07%. Watsco’s dividend payout ratio (DPR) is 83.46%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. lifted its position in Watsco by 8.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 9,942 shares of the construction company’s stock valued at $4,890,000 after buying an additional 800 shares in the last quarter. Kensington Investment Counsel LLC lifted its position in Watsco by 2.0% during the third quarter. Kensington Investment Counsel LLC now owns 17,756 shares of the construction company’s stock valued at $8,734,000 after buying an additional 351 shares in the last quarter. iSAM Funds UK Ltd lifted its position in Watsco by 163.4% during the third quarter. iSAM Funds UK Ltd now owns 1,167 shares of the construction company’s stock valued at $574,000 after buying an additional 724 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Watsco by 764.3% during the third quarter. National Bank of Canada FI now owns 4,745 shares of the construction company’s stock worth $2,334,000 after purchasing an additional 4,196 shares in the last quarter. Finally, EP Wealth Advisors LLC acquired a new position in shares of Watsco during the third quarter worth $265,000. 89.71% of the stock is owned by institutional investors and hedge funds.

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.