Research Analysts Issue Forecasts for Watts Water Technologies, Inc.’s Q3 2017 Earnings (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at KeyCorp cut their Q3 2017 earnings per share estimates for shares of Watts Water Technologies in a report issued on Monday. KeyCorp analyst J. Hammond now forecasts that the technology company will post earnings of $0.75 per share for the quarter, down from their prior estimate of $0.77. KeyCorp also issued estimates for Watts Water Technologies’ Q4 2017 earnings at $0.72 EPS and FY2018 earnings at $3.25 EPS.
Several other research analysts also recently weighed in on WTS. 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. reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Wednesday, June 14th. Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. Northcoast Research upgraded shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, September 18th. Finally, Stifel Nicolaus assumed coverage on shares of Watts Water Technologies in a report on Monday, September 18th. They issued a “buy” rating and a $72.00 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. Watts Water Technologies has a consensus rating of “Hold” and a consensus target price of $70.80.
Shares of Watts Water Technologies (NYSE WTS) opened at 69.10 on Wednesday. The stock’s 50 day moving average is $64.75 and its 200 day moving average is $63.28. The stock has a market cap of $2.36 billion, a PE ratio of 26.99 and a beta of 1.08. Watts Water Technologies has a 52-week low of $58.35 and a 52-week high of $71.05.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, topping 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 net margin of 6.27% and a return on equity of 12.84%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased 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 worth $222,353,000 after acquiring an additional 3,541,642 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Watts Water Technologies by 8.6% during the 1st quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock worth $161,541,000 after acquiring an additional 205,883 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Watts Water Technologies by 139.1% during the 2nd quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock worth $13,070,000 after acquiring an additional 120,300 shares in the last quarter. Palisade Capital Management LLC NJ raised its holdings in shares of Watts Water Technologies by 71.6% during the 2nd quarter. Palisade Capital Management LLC NJ now owns 182,026 shares of the technology company’s stock worth $11,504,000 after acquiring an additional 75,934 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Watts Water Technologies by 9.8% during the 2nd quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock worth $47,987,000 after acquiring an additional 67,767 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
In related news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $62.11, for a total value of $205,335.66. Following the sale, the insider now directly owns 32,128 shares in the company, valued at $1,995,470.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a $0.19 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.10%. Watts Water Technologies’s dividend payout ratio (DPR) is 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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