Watsco Inc Plans Quarterly Dividend of $1.60 (WSO)

Watsco Inc (NYSE:WSO) declared a quarterly dividend on Monday, April 1st, NASDAQ reports. Stockholders of record on Monday, April 15th will be given a dividend of 1.60 per share by the construction company on Tuesday, April 30th. This represents a $6.40 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date is Friday, April 12th.

Watsco has increased its dividend by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Watsco has a dividend payout ratio of 96.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Watsco to earn $7.16 per share next year, which means the company should continue to be able to cover its $6.40 annual dividend with an expected future payout ratio of 89.4%.

NYSE WSO opened at $145.37 on Tuesday. The stock has a market capitalization of $5.38 billion, a PE ratio of 22.40, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.03 and a quick ratio of 1.69. Watsco has a twelve month low of $131.88 and a twelve month high of $192.94.

Watsco (NYSE:WSO) last released its quarterly earnings data on Thursday, February 14th. The construction company reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.04). The business had revenue of $991.32 million during the quarter, compared to the consensus estimate of $1.01 billion. Watsco had a return on equity of 14.29% and a net margin of 5.04%. The business’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $1.19 EPS. Equities research analysts predict that Watsco will post 6.72 earnings per share for the current fiscal year.

A number of brokerages recently commented on WSO. Zacks Investment Research lowered Watsco from a “hold” rating to a “sell” rating in a research note on Friday, December 7th. Morgan Stanley began coverage on Watsco in a research note on Tuesday, December 18th. They set an “equal weight” rating and a $144.00 price target for the company. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $176.00.

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Watsco Company Profile

Watsco, Inc, together with its subsidiaries, distributes air conditioning, heating, and refrigeration equipment; and related parts and supplies in the United States, Canada, Mexico, and Puerto Rico. It offers residential ducted and ductless air conditioners; gas, electric, and oil furnaces; commercial air conditioning and heating equipment systems; and other specialized equipment.

Further Reading: Return on Equity (ROE)

Dividend History for Watsco (NYSE:WSO)

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