Watsco, Inc. (WSO) Declares $1.25 Quarterly Dividend
Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Monday, October 2nd, RTT News reports. Shareholders of record on Monday, October 16th will be given a dividend of 1.25 per share by the construction company on Tuesday, October 31st. This represents a $5.00 dividend on an annualized basis and a yield of 3.10%.
Watsco has increased its dividend by an average of 46.3% per year over the last three years and has raised its dividend every year for the last 3 years. Watsco has a dividend payout ratio of 87.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Watsco to earn $6.41 per share next year, which means the company should continue to be able to cover its $5.00 annual dividend with an expected future payout ratio of 78.0%.
Shares of Watsco (WSO) opened at 161.07 on Monday. The stock has a market cap of $5.26 billion, a PE ratio of 29.78 and a beta of 0.84. Watsco has a 12 month low of $128.60 and a 12 month high of $161.86. The stock has a 50 day moving average of $148.82 and a 200 day moving average of $146.20.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.29 billion. Watsco had a return on equity of 14.52% and a net margin of 4.29%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.82 earnings per share. On average, equities analysts anticipate that Watsco will post $5.78 earnings per share for the current fiscal year.
TRADEMARK VIOLATION NOTICE: This report was first posted by Watch List News and is owned by of Watch List News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.watchlistnews.com/watsco-inc-wso-declares-1-25-quarterly-dividend/1602888.html.
A number of equities analysts recently issued reports on WSO shares. BidaskClub upgraded shares of Watsco from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Stifel Nicolaus restated a “buy” rating and set a $176.00 price target (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Zacks Investment Research upgraded shares of Watsco from a “hold” rating to a “buy” rating and set a $173.00 price target on the stock in a research report on Tuesday, June 27th. Wolfe Research began coverage on shares of Watsco in a research report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $141.00 price target (up from $139.00) on shares of Watsco in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average target price of $161.17.
Watsco Company Profile
Watsco, Inc is a distributor of air conditioning, heating and refrigeration equipment, and related parts and supplies (HVAC/R) in the HVAC/R distribution industry in North America. As of December 31, 2016, the Company sold a range of non-equipment products, representing more than 300,000 stock keeping units, including parts, ductwork, air movement products, insulation, tools, installation supplies, thermostats and air quality products.
Receive News & Ratings for Watsco Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watsco Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.