Watts Water Technologies (WTS) Releases Quarterly Earnings Results
Watts Water Technologies (NYSE:WTS) announced its earnings results on Wednesday. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.65 by $0.07, StockRatingsNetwork.com reports. The company had revenue of $371.80 million for the quarter, compared to the consensus estimate of $370.21 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 5.4% on a year-over-year basis.
Shares of Watts Water Technologies (NYSE:WTS) opened at 58.07 on Wednesday. Watts Water Technologies has a one year low of $36.45 and a one year high of $55.76. The stock’s 50-day moving average is $53.54 and its 200-day moving average is $48.95. The company has a market cap of $2.047 billion and a P/E ratio of 29.67.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 29th. Shareholders of record on Monday, November 18th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 0.90%.
WTS has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Watts Water Technologies from $48.00 to $57.00 in a research note to investors on Monday, August 5th. On a related note, analysts at Janney Montgomery Scott raised their price target on shares of Watts Water Technologies from $45.00 to $54.00 in a research note to investors on Thursday, August 1st. They now have a “neutral” rating on the stock. Finally, analysts at Zacks upgraded shares of Watts Water Technologies from an “underperform” rating to a “neutral” rating in a research note to investors on Thursday, August 1st. They now have a $53.30 price target on the stock. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $49.61.
Watts Water Technologies, Inc (NYSE:WTS)is a supplier of products for use in the water quality, water safety, water flow control and water conservation markets in both North America and Europe with a presence in Asia.
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