Watsco Inc (NYSE:WSO) announced a quarterly dividend on Monday, April 2nd, RTT News reports. Stockholders of record on Monday, April 16th will be paid a dividend of 1.45 per share by the construction company on Monday, April 30th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Friday, April 13th. This is a positive change from Watsco’s previous quarterly dividend of $1.25.
Watsco has raised its dividend by an average of 32.0% annually over the last three years and has increased its dividend every year for the last 4 years. Watsco has a dividend payout ratio of 89.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Watsco to earn $7.51 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 66.6%.
Shares of WSO opened at $185.88 on Friday. The stock has a market cap of $6,934.44, a PE ratio of 34.04 and a beta of 0.82. The company has a quick ratio of 1.38, a current ratio of 3.21 and a debt-to-equity ratio of 0.01. Watsco has a 12-month low of $134.08 and a 12-month high of $189.72.
Watsco (NYSE:WSO) last issued its quarterly earnings results on Thursday, February 8th. The construction company reported $0.90 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.00 by ($0.10). The business had revenue of $964.35 million for the quarter, compared to the consensus estimate of $965.85 million. Watsco had a net margin of 4.80% and a return on equity of 14.66%. The business’s revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. equities analysts forecast that Watsco will post 6.81 earnings per share for the current year.
A number of brokerages have recently issued reports on WSO. Stifel Nicolaus reiterated a “buy” rating and set a $191.00 price target on shares of Watsco in a research report on Wednesday. ValuEngine upgraded Watsco from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research downgraded Watsco from a “buy” rating to a “hold” rating in a research report on Tuesday, March 20th. Stephens set a $169.00 target price on Watsco and gave the stock a “hold” rating in a research report on Thursday, February 8th. Finally, Susquehanna Bancshares set a $195.00 target price on Watsco and gave the stock a “buy” rating in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $173.50.
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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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