Waters Earns Neutral Rating from Zacks (WAT)
Waters (NYSE:WAT)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Thursday. They currently have a $109.00 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 5.09% from the stock’s previous close.
Zacks’ analyst wrote, “Waters Corporation is a leading manufacturer and marketer of high performance liquid chromatography, nd mass spectrometry (MS) instrument systems and support products. The company reported a year-over year improvement in second-quarter results driven by higher sales, favorable currency translation and efficient cost-control measures. Also, the company witnessed decent revenue generation across all its key operating regions. In addition, Waters provided an encouraging guidance for 2014 banking on growth in pharmaceutical markets and recurring revenues. However, the company’s Chinese operations failed to impress in the quarter. Considering these factors, we are reaffirming our Neutral recommendation on Waters Corporation with a target price of $109.”
Waters (NYSE:WAT) traded up 0.07% on Thursday, hitting $103.79. The stock had a trading volume of 142,782 shares. Waters has a 52 week low of $94.50 and a 52 week high of $115.06. The stock’s 50-day moving average is $103.6 and its 200-day moving average is $106.1. The company has a market cap of $8.715 billion and a P/E ratio of 21.90.
Waters (NYSE:WAT) last released its earnings data on Tuesday, July 22nd. The company reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.01. The company had revenue of $482.00 million for the quarter, compared to the consensus estimate of $475.80 million. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Analysts expect that Waters will post $5.32 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Waters in a research note on Monday, August 11th. They set a “hold” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of Waters from $98.00 to $105.00 in a research note on Wednesday, July 23rd. They now have a “hold” rating on the stock. Finally, analysts at Citigroup Inc. initiated coverage on shares of Waters in a research note on Thursday, July 17th. They set a “neutral” rating and a $112.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $113.38.
Waters Corporation (NYSE:WAT) is an analytical instrument manufacturer that primarily designs, manufactures, sells and services, through its Waters Division, high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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