Watts Water Technologies Inc (WTS) Expected to Announce Earnings of $0.73 Per Share

Brokerages predict that Watts Water Technologies Inc (NYSE:WTS) will report $0.73 earnings per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Watts Water Technologies’ earnings, with the highest EPS estimate coming in at $0.76 and the lowest estimate coming in at $0.71. Watts Water Technologies reported earnings per share of $0.64 in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The firm is scheduled to announce its next earnings report after the market closes on Monday, February 12th.

On average, analysts expect that Watts Water Technologies will report full-year earnings of $3.01 per share for the current financial year, with EPS estimates ranging from $2.99 to $3.04. For the next year, analysts forecast that the company will post earnings of $3.39 per share, with EPS estimates ranging from $3.25 to $3.88. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.03. The company had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The firm’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.71 EPS.

Several research firms recently commented on WTS. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a research note on Tuesday. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Tuesday, October 3rd. Robert W. Baird raised their price target on shares of Watts Water Technologies from $71.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Northcoast Research set a $90.00 price target on shares of Watts Water Technologies and gave the stock a “buy” rating in a research note on Friday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $77.33.

Watts Water Technologies (WTS) traded up $1.60 during mid-day trading on Friday, reaching $80.50. 85,939 shares of the company traded hands, compared to its average volume of 98,701. The stock has a market cap of $2,750.00, a P/E ratio of 29.93, a PEG ratio of 1.96 and a beta of 1.16. Watts Water Technologies has a 52 week low of $59.15 and a 52 week high of $80.55. The company has a quick ratio of 1.70, a current ratio of 2.57 and a debt-to-equity ratio of 0.60.

In other Watts Water Technologies news, CEO Robert J. Pagano, Jr. sold 11,852 shares of the firm’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $73.53, for a total transaction of $871,477.56. Following the transaction, the chief executive officer now owns 137,474 shares of the company’s stock, valued at approximately $10,108,463.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Robert J. Pagano, Jr. sold 3,951 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $73.09, for a total transaction of $288,778.59. Following the transaction, the chief executive officer now directly owns 137,474 shares in the company, valued at approximately $10,047,974.66. The disclosure for this sale can be found here. Insiders have sold a total of 18,348 shares of company stock worth $1,339,628 in the last three months. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its position in 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 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. Amalgamated Bank increased its position in Watts Water Technologies by 3.5% during the 2nd quarter. Amalgamated Bank now owns 3,813 shares of the technology company’s stock valued at $241,000 after purchasing an additional 128 shares during the period. Nationwide Fund Advisors increased its position in Watts Water Technologies by 0.8% during the 2nd quarter. Nationwide Fund Advisors now owns 17,452 shares of the technology company’s stock valued at $1,103,000 after purchasing an additional 131 shares during the period. Finally, ETRADE Capital Management LLC increased its position in Watts Water Technologies by 4.1% during the 2nd quarter. ETRADE Capital Management LLC now owns 4,102 shares of the technology company’s stock valued at $259,000 after purchasing an additional 161 shares during the period. 77.68% of the stock is currently owned by institutional investors and hedge funds.

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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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