$1.71 Earnings Per Share Expected for Waters Corporation (WAT) This Quarter
Analysts expect Waters Corporation (NYSE:WAT) to announce earnings per share (EPS) of $1.71 for the current quarter, Zacks reports. Nine analysts have issued estimates for Waters Corporation’s earnings, with the lowest EPS estimate coming in at $1.70 and the highest estimate coming in at $1.73. Waters Corporation reported earnings of $1.58 per share during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, July 25th.
On average, analysts expect that Waters Corporation will report full-year earnings of $7.31 per share for the current financial year, with EPS estimates ranging from $7.26 to $7.35. For the next fiscal year, analysts anticipate that the business will post earnings of $8.02 per share, with EPS estimates ranging from $7.80 to $8.96. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Waters Corporation.
Waters Corporation (NYSE:WAT) last issued its quarterly earnings results on Tuesday, April 25th. The medical instruments supplier reported $1.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.13. Waters Corporation had a return on equity of 24.30% and a net margin of 24.34%. The firm had revenue of $497.97 million during the quarter, compared to analysts’ expectations of $489.37 million. During the same period in the previous year, the business earned $1.26 earnings per share. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis.
Several equities analysts recently weighed in on the company. Evercore ISI downgraded Waters Corporation from a “hold” rating to an “underperform” rating in a research note on Friday, March 3rd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $170.00 price objective on shares of Waters Corporation in a research note on Friday, March 3rd. Cowen and Company raised their price objective on Waters Corporation from $160.00 to $175.00 and gave the company a “market perform” rating in a research note on Wednesday, April 26th. Barclays PLC set a $160.00 price objective on Waters Corporation and gave the company a “hold” rating in a research note on Wednesday, April 26th. Finally, Janney Montgomery Scott raised Waters Corporation from a “neutral” rating to a “buy” rating and raised their price objective for the company from $185.00 to $200.00 in a research note on Monday, May 1st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $168.91.
Shares of Waters Corporation (WAT) traded up 0.491% during mid-day trading on Monday, hitting $185.065. The company had a trading volume of 41,862 shares. The firm has a 50-day moving average price of $178.14 and a 200 day moving average price of $155.82. The firm has a market capitalization of $14.81 billion, a P/E ratio of 28.142 and a beta of 0.83. Waters Corporation has a 12 month low of $131.35 and a 12 month high of $187.65.
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In other Waters Corporation news, SVP Rohit Khanna sold 23,000 shares of the firm’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the completion of the transaction, the senior vice president now owns 27,077 shares of the company’s stock, valued at $5,060,691.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael J. Berendt sold 1,000 shares of Waters Corporation stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $174.01, for a total value of $174,010.00. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,062,959.49. The disclosure for this sale can be found here. Insiders have sold 165,940 shares of company stock valued at $29,321,461 in the last three months. 5.07% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of WAT. Aberdeen Asset Management PLC UK boosted its position in shares of Waters Corporation by 19.4% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 40,135 shares of the medical instruments supplier’s stock worth $5,394,000 after buying an additional 6,532 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in shares of Waters Corporation by 2.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 6,273 shares of the medical instruments supplier’s stock worth $843,000 after buying an additional 132 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Waters Corporation by 7.2% in the fourth quarter. Van ECK Associates Corp now owns 1,051 shares of the medical instruments supplier’s stock worth $141,000 after buying an additional 71 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Waters Corporation by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,619 shares of the medical instruments supplier’s stock worth $621,000 after buying an additional 17 shares during the last quarter. Finally, Oxford Asset Management boosted its position in shares of Waters Corporation by 36.8% in the fourth quarter. Oxford Asset Management now owns 4,331 shares of the medical instruments supplier’s stock worth $582,000 after buying an additional 1,165 shares during the last quarter. Hedge funds and other institutional investors own 92.18% of the company’s stock.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services 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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