Watts Water Technologies, Inc. (NYSE:WTS) Expected to Post Q3 2017 Earnings of $0.78 Per Share
Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at Northcoast Research lifted their Q3 2017 earnings per share estimates for shares of Watts Water Technologies in a note issued to investors on Monday. Northcoast Research analyst A. Cohen now anticipates that the technology company will post earnings of $0.78 per share for the quarter, up from their prior estimate of $0.74. Northcoast Research also issued estimates for Watts Water Technologies’ Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.98 EPS, Q2 2018 earnings at $0.83 EPS, Q3 2018 earnings at $0.84 EPS, Q4 2018 earnings at $0.86 EPS and FY2018 earnings at $3.25 EPS.
WTS has been the topic of several other reports. Zacks Investment Research upgraded Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. BidaskClub cut Watts Water Technologies from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Watts Water Technologies has an average rating of “Hold” and a consensus price target of $64.50.
Watts Water Technologies (NYSE WTS) opened at 65.60 on Tuesday. The company’s 50-day moving average is $63.18 and its 200-day moving average is $62.97. Watts Water Technologies has a one year low of $58.35 and a one year high of $71.05. The firm has a market capitalization of $2.26 billion, a P/E ratio of 25.62 and a beta of 1.07.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. The business had revenue of $378.50 million for the quarter, compared to the consensus estimate of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.16%. The ex-dividend date is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is presently 29.69%.
In other Watts Water Technologies news, insider Elie Melhem sold 1,281 shares of the firm’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 transaction, the insider now directly owns 29,493 shares in the company, valued at approximately $1,899,939.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after buying an additional 3,541,642 shares during the period. Schroder Investment Management Group raised its stake in shares of 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 in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Watts Water Technologies during the first quarter valued at about $1,530,000. Thrivent Financial For Lutherans raised its stake in shares of Watts Water Technologies by 3.8% in the first quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock valued at $979,000 after buying an additional 580 shares in the last quarter. Finally, NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Watts Water Technologies during the first quarter valued at about $374,000. Institutional investors and hedge funds own 77.97% of the company’s stock.
Watts Water Technologies Company Profile
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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