Oppenheimer Holdings Comments on Watts Water Technologies, Inc.’s FY2017 Earnings (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Equities researchers at Oppenheimer Holdings upped their FY2017 earnings per share (EPS) estimates for shares of Watts Water Technologies in a report released on Thursday. Oppenheimer Holdings analyst J. Giannakouros now expects that the technology company will earn $3.00 per share for the year, up from their prior estimate of $2.95. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Watts Water Technologies’ FY2018 earnings at $3.30 EPS.
A number of other research firms have also weighed in on WTS. BidaskClub lowered Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $64.50.
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Watts Water Technologies (NYSE WTS) opened at 66.20 on Monday. The firm’s 50-day moving average price is $63.18 and its 200-day moving average price is $62.97. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The stock has a market cap of $2.28 billion, a PE ratio of 25.86 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share.
Several hedge funds have recently modified their holdings of the stock. Clean Yield Group acquired a new stake in shares of Watts Water Technologies during the first quarter valued at approximately $108,000. Glen Harbor Capital Management LLC raised its stake in shares of Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock valued at $122,000 after buying an additional 224 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Watts Water Technologies by 8.8% in the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares in the last quarter. Elkfork Partners LLC raised its stake in shares of Watts Water Technologies by 12.9% in the first quarter. Elkfork Partners LLC now owns 2,380 shares of the technology company’s stock valued at $148,000 after buying an additional 272 shares in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in shares of Watts Water Technologies during the first quarter valued at approximately $150,000. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $64.42, for a total transaction of $82,522.02. Following the completion of the sale, 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 SEC, which can be accessed through this link. 1.10% of the stock is owned by corporate insiders.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.15%. Watts Water Technologies’s dividend payout ratio is currently 29.69%.
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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