$360.01 Million in Sales Expected for Watts Water Technologies, Inc. (NYSE:WTS) This Quarter
Equities analysts forecast that Watts Water Technologies, Inc. (NYSE:WTS) will report sales of $360.01 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Watts Water Technologies’ earnings, with the lowest sales estimate coming in at $349.00 million and the highest estimate coming in at $367.00 million. Watts Water Technologies posted sales of $341.10 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.5%. The firm is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Watts Water Technologies will report full year sales of $360.01 million for the current year, with estimates ranging from $1.42 billion to $1.46 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.50 billion per share, with estimates ranging from $1.48 billion to $1.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The company had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $379.51 million. During the same period last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year.
Several equities research analysts have commented on WTS shares. Zacks Investment Research upgraded shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research note on Thursday, May 4th. Finally, BidaskClub raised Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and an average target price of $64.50.
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Watts Water Technologies (NYSE WTS) traded down 1.01% during midday trading on Friday, hitting $63.40. 64,814 shares of the company’s stock traded hands. The company has a 50 day moving average of $63.72 and a 200-day moving average of $63.07. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The company has a market capitalization of $2.17 billion, a PE ratio of 24.77 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a yield of 1.19%. Watts Water Technologies’s dividend payout ratio is currently 29.69%.
In related news, insider Elie Melhem sold 1,281 shares of Watts Water Technologies stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $64.42, for a total value of $82,522.02. Following the transaction, the insider now owns 29,493 shares of the company’s stock, valued at approximately $1,899,939.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of WTS. Clean Yield Group bought a new position in shares of Watts Water Technologies during the first quarter worth $108,000. Riverhead Capital Management LLC boosted its position in shares of Watts Water Technologies by 44.3% in the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after buying an additional 532 shares in the last quarter. Acrospire Investment Management LLC boosted its position in shares of Watts Water Technologies by 157.1% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock worth $114,000 after buying an additional 1,100 shares in the last quarter. Glen Harbor Capital Management LLC boosted its position 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 worth $122,000 after buying an additional 224 shares in the last quarter. Finally, Bruderman Asset Management LLC bought a new position in shares of Watts Water Technologies during the second quarter worth $130,000. 77.97% of the stock is currently owned by hedge funds and other institutional investors.
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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