Watsco, Inc. (NYSE:WSO) declared a quarterly dividend on Monday, October 2nd, RTT News reports. Investors of record on Monday, October 16th will be paid 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 3.14%. The ex-dividend date is Friday, October 13th.
Watsco has increased its dividend by an average of 46.3% annually over the last three years and has increased its dividend every year for the last 3 years. Watsco has a payout ratio of 87.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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%.
Watsco (NYSE:WSO) opened at 159.46 on Tuesday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of 29.49 and a beta of 0.84. The company has a 50-day moving average of $155.52 and a 200-day moving average of $148.01. Watsco has a 52 week low of $128.60 and a 52 week high of $163.95.
Watsco (NYSE:WSO) last issued its quarterly earnings data on Tuesday, July 25th. The construction company reported $2.07 EPS for the quarter, beating the consensus estimate of $2.02 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Watsco had a net margin of 4.29% and a return on equity of 14.52%. Watsco’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.82 earnings per share. Equities research analysts forecast that Watsco will post $5.74 earnings per share for the current fiscal year.
WSO has been the topic of several analyst reports. BidaskClub raised shares of Watsco from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Morgan Stanley reissued an “underweight” rating and set a $141.00 price objective (up from $139.00) on shares of Watsco in a research report on Wednesday, July 26th. Robert W. Baird reissued a “buy” rating and set a $163.00 price objective on shares of Watsco in a research report on Friday, September 1st. Stifel Nicolaus reissued a “buy” rating and set a $176.00 price objective (up from $163.00) on shares of Watsco in a research report on Friday, June 23rd. Finally, Wolfe Research initiated coverage on shares of Watsco in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. Watsco currently has a consensus rating of “Hold” and an average target price of $159.40.
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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.
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