$379.44 Million in Sales Expected for Watts Water Technologies, Inc. (WTS) This Quarter
Analysts expect Watts Water Technologies, Inc. (NYSE:WTS) to post sales of $379.44 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Watts Water Technologies’ earnings. The lowest sales estimate is $374.00 million and the highest is $390.00 million. Watts Water Technologies reported sales of $371.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.2%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Watts Water Technologies will report full year sales of $379.44 million for the current year, with estimates ranging from $1.43 billion to $1.48 billion. For the next financial year, analysts forecast that the firm will report sales of $1.49 billion per share, with estimates ranging from $1.47 billion to $1.58 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.05. The firm had revenue of $347.20 million during the quarter, compared to analyst estimates of $343.79 million. Watts Water Technologies had a net margin of 6.40% and a return on equity of 12.75%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS.
Several equities research analysts recently weighed in on WTS shares. Zacks Investment Research raised Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Thursday, May 4th. Finally, BidaskClub raised Watts Water Technologies from a “strong sell” rating to a “sell” rating in a report on Friday, June 9th. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $64.50.
In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $64.42, for a total value of $82,522.02. Following the completion of the transaction, the insider now owns 29,493 shares in the company, valued at $1,899,939.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in WTS. Schroder Investment Management Group boosted its position in Watts Water Technologies by 71.0% in the first quarter. Schroder Investment Management Group now owns 47,829 shares of the technology company’s stock valued at $2,985,000 after buying an additional 19,851 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Watts Water Technologies during the fourth quarter valued at about $1,454,000. NJ State Employees Deferred Compensation Plan acquired a new position in Watts Water Technologies during the first quarter valued at about $374,000. Renaissance Technologies LLC boosted its position in Watts Water Technologies by 24.4% in the fourth quarter. Renaissance Technologies LLC now owns 61,600 shares of the technology company’s stock valued at $4,016,000 after buying an additional 12,100 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in Watts Water Technologies during the first quarter valued at about $1,530,000. Hedge funds and other institutional investors own 78.05% of the company’s stock.
Watts Water Technologies (WTS) traded down 0.54% during trading on Friday, hitting $64.60. 93,054 shares of the stock traded hands. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05. The firm’s 50-day moving average is $63.11 and its 200-day moving average is $63.03. The stock has a market cap of $2.21 billion, a P/E ratio of 24.85 and a beta of 1.07.
About Watts Water Technologies
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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