$359.96 Million in Sales Expected for Watts Water Technologies, Inc. (WTS) This Quarter
Brokerages expect Watts Water Technologies, Inc. (NYSE:WTS) to announce sales of $359.96 million for the current quarter, Zacks Investment Research reports. Six analysts have made 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 would indicate a positive year-over-year growth rate of 5.5%. The firm is scheduled to announce its next earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Watts Water Technologies will report full year sales of $359.96 million for the current financial year, with estimates ranging from $1.42 billion to $1.46 billion. For the next fiscal year, analysts anticipate that the business will post sales of $1.50 billion per share, with estimates ranging from $1.48 billion to $1.52 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The firm had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same quarter in the prior year, the business earned $0.75 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis.
WTS has been the subject of several research analyst reports. BidaskClub upgraded Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research note on Friday, June 9th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. Finally, Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $66.00.
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Watts Water Technologies (NYSE WTS) opened at 64.00 on Friday. Watts Water Technologies has a one year low of $58.35 and a one year high of $71.05. The stock’s 50 day moving average price is $63.35 and its 200-day moving average price is $62.74. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 25.00 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were paid a dividend of $0.19 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.19%. Watts Water Technologies’s dividend payout ratio is currently 29.69%.
In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction that occurred on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the transaction, the insider now directly owns 32,128 shares in the company, valued at approximately $1,995,470.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Watts Water Technologies by 14,402.8% in the 1st quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after purchasing an additional 3,541,642 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Watts Water Technologies by 9.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 172,155 shares of the technology company’s stock valued at $10,734,000 after purchasing an additional 14,482 shares during the period. Schroder Investment Management Group boosted its stake in Watts Water Technologies by 71.0% in the 1st quarter. Schroder Investment Management Group now owns 47,829 shares of the technology company’s stock valued at $2,985,000 after purchasing an additional 19,851 shares during the period. Morgan Stanley boosted its stake in Watts Water Technologies by 0.9% in the 1st quarter. Morgan Stanley now owns 162,153 shares of the technology company’s stock valued at $10,110,000 after purchasing an additional 1,439 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in Watts Water Technologies by 3.8% in the 1st quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock valued at $979,000 after purchasing an additional 580 shares during the period. Institutional investors and hedge funds own 77.64% of the company’s stock.
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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