Wall Street analysts expect that Watts Water Technologies, Inc. (NYSE:WTS) will announce earnings per share of $0.77 for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Watts Water Technologies’ earnings, with the highest EPS estimate coming in at $0.80 and the lowest estimate coming in at $0.72. Watts Water Technologies reported earnings of $0.71 per share during the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The firm is expected to issue its next quarterly earnings results after the market closes 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 fiscal 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’ earnings per share averages are an average based on a survey of sell-side research firms that that provide coverage for Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The company 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 revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS.

Several analysts recently commented on the company. Zacks Investment Research upgraded Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Tuesday, October 3rd. BidaskClub cut Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Stifel Nicolaus assumed coverage on Watts Water Technologies in a research report on Monday, September 18th. They issued a “buy” rating and a $72.00 target price on the stock. Robert W. Baird restated a “hold” rating and issued a $71.00 target price on shares of Watts Water Technologies in a research report on Wednesday, October 4th. Finally, Cowen and Company restated a “hold” rating and issued a $58.00 target price on shares of Watts Water Technologies in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Watts Water Technologies presently has a consensus rating of “Hold” and an average target price of $70.83.

Watts Water Technologies (NYSE WTS) traded up 0.30% during mid-day trading on Friday, hitting $67.30. 113,837 shares of the company were exchanged. The company has a market capitalization of $2.30 billion, a P/E ratio of 26.29 and a beta of 1.08. The company’s 50-day moving average is $66.83 and its 200 day moving average is $63.88. Watts Water Technologies has a 12-month low of $58.35 and a 12-month high of $71.05.

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In other news, insider Elie Melhem sold 3,306 shares of Watts Water Technologies stock in a transaction 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 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 legal filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the company. Public Employees Retirement System of Ohio increased its position in shares of Watts Water Technologies by 0.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock valued at $129,000 after purchasing an additional 17 shares during the period. Suntrust Banks Inc. increased its position in shares of Watts Water Technologies by 1.0% during the 2nd quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock valued at $207,000 after purchasing an additional 31 shares during the period. Manchester Capital Management LLC increased its position in shares of Watts Water Technologies by 0.5% during the 2nd quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock valued at $698,000 after purchasing an additional 50 shares during the period. South State Corp increased its position in shares of Watts Water Technologies by 1.5% during the 2nd quarter. South State Corp now owns 3,347 shares of the technology company’s stock valued at $212,000 after purchasing an additional 50 shares during the period. Finally, Eqis Capital Management Inc. increased its position in shares of Watts Water Technologies by 1.1% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock valued at $375,000 after purchasing an additional 64 shares during the period. Institutional investors own 77.51% 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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Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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