Zacks: Analysts Anticipate Watts Water Technologies, Inc. (WTS) to Post $0.77 Earnings Per Share
Analysts predict that Watts Water Technologies, Inc. (NYSE:WTS) will report earnings of $0.77 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Watts Water Technologies’ earnings. The lowest EPS estimate is $0.72 and the highest is $0.79. Watts Water Technologies posted earnings per share of $0.71 in the same quarter last year, which suggests a positive year-over-year growth rate of 8.5%. The business is expected to issue its next earnings results on Wednesday, November 1st.
On average, analysts expect that Watts Water Technologies will report full-year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.90 to $3.02. For the next financial year, analysts forecast that the business will report earnings of $3.27 per share, with EPS estimates ranging from $3.21 to $3.38. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. The company had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. Watts Water Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 EPS.
A number of research analysts recently weighed in on WTS shares. BidaskClub lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Boenning Scattergood reissued an “outperform” rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $64.50.
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Watts Water Technologies (NYSE WTS) opened at 63.40 on Friday. Watts Water Technologies has a 1-year low of $58.35 and a 1-year high of $71.05. The stock’s 50 day moving average is $63.35 and its 200 day moving average is $62.74. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 24.77 and a beta of 1.06.
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 given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.20%. The ex-dividend date is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio is 29.69%.
In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the completion of the transaction, the insider now owns 32,128 shares in the company, valued at $1,995,470.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of WTS. Bank of Montreal Can grew its stake in Watts Water Technologies by 8.8% during the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after acquiring an additional 180 shares in the last quarter. Glen Harbor Capital Management LLC grew its stake in Watts Water Technologies by 12.9% during the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock valued at $122,000 after acquiring an additional 224 shares in the last quarter. Wells Fargo & Company MN grew its stake in Watts Water Technologies by 4.0% during the first quarter. Wells Fargo & Company MN now owns 31,541 shares of the technology company’s stock valued at $1,967,000 after acquiring an additional 1,227 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in Watts Water Technologies by 6.7% during the first quarter. Great West Life Assurance Co. Can now owns 38,456 shares of the technology company’s stock valued at $2,395,000 after acquiring an additional 2,415 shares in the last quarter. Finally, Elkfork Partners LLC grew its stake in Watts Water Technologies by 12.9% during the first quarter. Elkfork Partners LLC now owns 2,380 shares of the technology company’s stock valued at $148,000 after acquiring an additional 272 shares in the last quarter. 77.64% of the stock is owned by institutional investors.
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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