Watts Water Technologies, Inc. (WTS) Posts Earnings Results, Beats Estimates By $0.03 EPS
Watts Water Technologies, Inc. (NYSE:WTS) issued its quarterly earnings data on Tuesday. The technology company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03, Bloomberg Earnings reports. The firm had revenue of $347.70 million during the quarter, compared to analysts’ expectations of $361.22 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The business’s revenue was up 1.9% on a year-over-year basis. During the same period last year, the company earned $0.71 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Thursday, November 30th. Watts Water Technologies’s payout ratio is currently 29.69%.
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In related news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction that occurred on 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 owns 32,128 shares in the company, valued at $1,995,470.08. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.10% of the stock is owned by corporate insiders.
A number of brokerages have recently issued reports on WTS. Zacks Investment Research upgraded shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Tuesday, October 3rd. BidaskClub cut shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Stifel Nicolaus began 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 for the company. Robert W. Baird reiterated a “hold” rating and set a $71.00 price objective on shares of Watts Water Technologies in a report on Wednesday, October 4th. Finally, Cowen and Company reiterated a “hold” rating and set a $58.00 price objective on shares of Watts Water Technologies in a report on Thursday, September 28th. One investment 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’s stock. Watts Water Technologies has a consensus rating of “Hold” and a consensus price target of $70.83.
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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