Equities analysts expect Watts Water Technologies, Inc. (NYSE:WTS) to report $360.11 million in sales for the current quarter, according to Zacks. Seven analysts have issued estimates for Watts Water Technologies’ earnings. The lowest sales estimate is $349.00 million and the highest is $369.47 million. Watts Water Technologies reported sales of $341.10 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.6%. The company is expected to report its next earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Watts Water Technologies will report full-year sales of $360.11 million for the current year, with estimates ranging from $1.42 billion to $1.47 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.50 billion per share, with estimates ranging from $1.48 billion to $1.52 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $378.50 million for 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.

WTS has been the topic of several recent analyst reports. BidaskClub raised shares of Watts Water Technologies from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 27th. Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. Northcoast Research raised 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 report on Monday, September 18th. Stifel Nicolaus initiated coverage on shares of Watts Water Technologies in a report on Monday, September 18th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Cowen and Company reaffirmed a “hold” rating and set a $58.00 price objective on shares of Watts Water Technologies in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $70.83.

In other news, insider Elie Melhem sold 3,306 shares of the firm’s stock in a transaction dated Friday, August 25th. The shares were sold at an average price of $62.11, for a total value of $205,335.66. Following the transaction, the insider now directly owns 32,128 shares of the company’s stock, valued at $1,995,470.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.

Several large investors have recently bought and sold shares of WTS. BlackRock Inc. lifted its stake in shares of Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock worth $222,353,000 after buying an additional 3,541,642 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Watts Water Technologies by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,590,860 shares of the technology company’s stock worth $161,541,000 after buying an additional 205,883 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Watts Water Technologies by 139.1% in the second quarter. Renaissance Technologies LLC now owns 206,800 shares of the technology company’s stock worth $13,070,000 after buying an additional 120,300 shares in the last quarter. Palisade Capital Management LLC NJ lifted its stake in shares of Watts Water Technologies by 71.6% in the second quarter. Palisade Capital Management LLC NJ now owns 182,026 shares of the technology company’s stock worth $11,504,000 after buying an additional 75,934 shares in the last quarter. Finally, Voya Investment Management LLC lifted its stake in shares of Watts Water Technologies by 9.8% in the second quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock worth $47,987,000 after buying an additional 67,767 shares in the last quarter. 77.51% of the stock is currently owned by hedge funds and other institutional investors.

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Shares of Watts Water Technologies (NYSE WTS) opened at 66.80 on Tuesday. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The firm has a 50-day moving average of $66.97 and a 200 day moving average of $63.97. The stock has a market cap of $2.28 billion, a PE ratio of 26.09 and a beta of 1.08.

Watts Water Technologies Company Profile

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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