Brokerages Expect Waters Corporation (WAT) Will Post Earnings of $1.74 Per Share
Equities research analysts expect Waters Corporation (NYSE:WAT) to announce earnings of $1.74 per share for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Waters Corporation’s earnings. The lowest EPS estimate is $1.72 and the highest is $1.77. Waters Corporation posted earnings per share of $1.57 in the same quarter last year, which indicates a positive year-over-year growth rate of 10.8%. The business is expected to announce its next quarterly earnings report before the market opens on Tuesday, October 24th.
On average, analysts expect that Waters Corporation will report full-year earnings of $7.38 per share for the current year, with EPS estimates ranging from $7.33 to $7.45. For the next financial year, analysts forecast that the business will report earnings of $8.03 per share, with EPS estimates ranging from $7.90 to $8.17. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Waters Corporation.
Waters Corporation (NYSE:WAT) last announced its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The company had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. During the same quarter last year, the firm earned $1.58 EPS. Waters Corporation’s revenue for the quarter was up 4.0% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. BidaskClub upgraded Waters Corporation from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 16th. Cleveland Research cut Waters Corporation from a “buy” rating to a “neutral” rating in a research note on Monday, October 9th. Wells Fargo & Company restated an “outperform” rating and set a $205.00 target price (up from $195.00) on shares of Waters Corporation in a research note on Thursday, July 13th. Goldman Sachs Group, Inc. (The) assumed coverage on Waters Corporation in a research note on Tuesday, September 26th. They set a “hold” rating and a $180.00 target price for the company. Finally, Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $202.00 target price for the company in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $186.25.
In related news, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total transaction of $628,845.00. Following the completion of the transaction, the director now directly owns 17,849 shares of the company’s stock, valued at approximately $3,206,929.83. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rohit Khanna sold 18,400 shares of the firm’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $185.78, for a total value of $3,418,352.00. Following the transaction, the senior vice president now directly owns 22,477 shares of the company’s stock, valued at $4,175,777.06. The disclosure for this sale can be found here. 5.07% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in Waters Corporation by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,704,022 shares of the medical instruments supplier’s stock worth $1,416,308,000 after purchasing an additional 206,262 shares during the last quarter. BlackRock Inc. raised its position in Waters Corporation by 3.1% during the 2nd quarter. BlackRock Inc. now owns 5,515,322 shares of the medical instruments supplier’s stock worth $1,013,936,000 after purchasing an additional 165,611 shares during the last quarter. Fundsmith LLP raised its position in Waters Corporation by 11.7% during the 2nd quarter. Fundsmith LLP now owns 3,833,955 shares of the medical instruments supplier’s stock worth $704,834,000 after purchasing an additional 401,420 shares during the last quarter. State Street Corp raised its position in Waters Corporation by 1.7% during the 1st quarter. State Street Corp now owns 3,446,000 shares of the medical instruments supplier’s stock worth $538,641,000 after purchasing an additional 58,746 shares during the last quarter. Finally, Janus Capital Management LLC raised its position in Waters Corporation by 18.2% during the 1st quarter. Janus Capital Management LLC now owns 2,309,646 shares of the medical instruments supplier’s stock worth $361,021,000 after purchasing an additional 356,395 shares during the last quarter. 90.95% of the stock is owned by institutional investors and hedge funds.
Shares of Waters Corporation (NYSE WAT) traded down 2.01% during mid-day trading on Tuesday, hitting $180.92. The stock had a trading volume of 712,315 shares. The stock has a 50 day moving average of $183.92 and a 200-day moving average of $177.74. The stock has a market capitalization of $14.44 billion, a P/E ratio of 27.27 and a beta of 0.82. Waters Corporation has a 52 week low of $133.35 and a 52 week high of $190.39.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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