$364.26 Million in Sales Expected for Watts Water Technologies, Inc. (WTS) This Quarter
Brokerages expect Watts Water Technologies, Inc. (NYSE:WTS) to report $364.26 million in sales for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Watts Water Technologies’ earnings. The highest sales estimate is $372.60 million and the lowest is $358.00 million. Watts Water Technologies reported sales of $342.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 6.5%. The company is expected to issue its next earnings results on Thursday, February 8th.
On average, analysts expect that Watts Water Technologies will report full year sales of $364.26 million for the current year, with estimates ranging from $1.45 billion to $1.46 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.51 billion per share, with estimates ranging from $1.50 billion to $1.52 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. Watts Water Technologies had a return on equity of 12.90% and a net margin of 6.49%. The company had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. During the same quarter last year, the business posted $0.71 EPS. Watts Water Technologies’s revenue for the quarter was up 1.9% on a year-over-year basis.
In related news, insider Elie Melhem sold 2,545 shares of the firm’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total transaction of $179,371.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Impax Asset Management LTD raised its position in Watts Water Technologies by 7.8% during the 3rd quarter. Impax Asset Management LTD now owns 2,730,009 shares of the technology company’s stock worth $188,917,000 after purchasing an additional 196,626 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Watts Water Technologies by 4.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 992,272 shares of the technology company’s stock worth $68,667,000 after acquiring an additional 38,374 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Watts Water Technologies by 29.0% in the 3rd quarter. Victory Capital Management Inc. now owns 771,208 shares of the technology company’s stock worth $53,367,000 after acquiring an additional 173,225 shares in the last quarter. Voya Investment Management LLC raised its position in shares of Watts Water Technologies by 9.8% in the 2nd quarter. Voya Investment Management LLC now owns 759,287 shares of the technology company’s stock worth $47,987,000 after acquiring an additional 67,767 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of Watts Water Technologies by 5.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 719,108 shares of the technology company’s stock worth $45,448,000 after acquiring an additional 36,723 shares in the last quarter. 77.71% of the stock is owned by institutional investors and hedge funds.
Shares of Watts Water Technologies (WTS) opened at $73.75 on Friday. The company has a current ratio of 2.57, a quick ratio of 1.70 and a debt-to-equity ratio of 0.60. Watts Water Technologies has a twelve month low of $59.15 and a twelve month high of $74.95. The firm has a market capitalization of $2,540.61, a price-to-earnings ratio of 25.48, a P/E/G ratio of 2.06 and a beta of 1.15.
The business also recently announced 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 annualized dividend and a yield of 1.03%. The ex-dividend date is Thursday, November 30th. Watts Water Technologies’s dividend payout ratio is currently 28.15%.
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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