Q3 2017 Earnings Forecast for Waters Corporation (WAT) Issued By Jefferies Group
Waters Corporation (NYSE:WAT) – Research analysts at Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for shares of Waters Corporation in a research note issued to investors on Friday. Jefferies Group analyst B. Couillard now expects that the medical instruments supplier will post earnings of $1.76 per share for the quarter, up from their prior forecast of $1.75. Jefferies Group has a “Hold” rating and a $175.00 price target on the stock. Jefferies Group also issued estimates for Waters Corporation’s Q4 2017 earnings at $2.44 EPS, FY2017 earnings at $7.42 EPS, Q1 2018 earnings at $1.77 EPS, Q2 2018 earnings at $1.98 EPS, Q4 2018 earnings at $2.35 EPS and FY2018 earnings at $8.05 EPS.
A number of other research analysts have also issued reports on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $183.00 target price (up from $174.00) on shares of Waters Corporation in a report on Wednesday, July 26th. Bank of America Corporation reaffirmed a “neutral” rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a report on Friday, July 21st. Deutsche Bank AG lowered Waters Corporation from a “buy” rating to a “hold” rating and lifted their target price for the stock from $183.00 to $194.00 in a report on Monday, July 10th. Cowen and Company reaffirmed a “hold” rating and set a $190.00 target price on shares of Waters Corporation in a report on Friday, July 14th. Finally, BidaskClub lowered Waters Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Waters Corporation has an average rating of “Hold” and a consensus price target of $186.25.
Shares of Waters Corporation (NYSE:WAT) opened at 188.14 on Monday. Waters Corporation has a 52-week low of $133.35 and a 52-week high of $190.39. The company has a 50 day moving average of $184.25 and a 200 day moving average of $178.42. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 28.36 and a beta of 0.81.
Waters Corporation (NYSE:WAT) last released its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 EPS for the quarter, topping the consensus estimate of $1.71 by $0.05. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The business had revenue of $558.30 million for the quarter, compared to analyst estimates of $553.22 million. During the same period in the previous year, the firm earned $1.58 EPS. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year.
In other Waters Corporation news, SVP Rohit Khanna sold 18,400 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $185.78, for a total transaction of $3,418,352.00. Following the completion of the sale, the senior vice president now directly owns 22,477 shares in the company, valued at approximately $4,175,777.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher A. Kuebler sold 3,500 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $179.67, for a total value of $628,845.00. Following the sale, the director now owns 17,849 shares of the company’s stock, valued at $3,206,929.83. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Asset Management Americas Inc. boosted its position in Waters Corporation by 46.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 374,472 shares of the medical instruments supplier’s stock worth $68,843,000 after acquiring an additional 119,130 shares during the period. Chicago Equity Partners LLC acquired a new stake in Waters Corporation during the 2nd quarter worth about $3,230,000. BlackRock Inc. boosted 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 acquiring an additional 165,611 shares during the period. Aviva PLC boosted its position in Waters Corporation by 0.9% during the 2nd quarter. Aviva PLC now owns 47,903 shares of the medical instruments supplier’s stock worth $8,806,000 after acquiring an additional 420 shares during the period. Finally, Franklin Resources Inc. boosted its position in Waters Corporation by 3.1% during the 2nd quarter. Franklin Resources Inc. now owns 927,227 shares of the medical instruments supplier’s stock worth $170,461,000 after acquiring an additional 28,229 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.
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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