Analysts Anticipate Watts Water Technologies Inc (WTS) Will Post Quarterly Sales of $364.10 Million

Brokerages forecast that Watts Water Technologies Inc (NYSE:WTS) will report $364.10 million in sales for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Watts Water Technologies’ earnings. The lowest sales estimate is $358.00 million and the highest is $373.40 million. Watts Water Technologies posted 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 business is expected to issue its next earnings results after the market closes on Monday, February 12th.

According to Zacks, analysts expect that Watts Water Technologies will report full year sales of $364.10 million for the current fiscal year, with estimates ranging from $1.45 billion to $1.46 billion. For the next financial year, analysts anticipate that the company will report sales of $1.51 billion per share, with estimates ranging from $1.50 billion to $1.54 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last released its earnings results on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, topping the 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 business had revenue of $347.70 million during the quarter, compared to analysts’ expectations of $361.22 million. During the same quarter last year, the firm posted $0.71 earnings per share. The firm’s revenue was up 1.9% on a year-over-year basis.

A number of brokerages have commented on WTS. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Watts Water Technologies in a research note on Tuesday, January 16th. Northcoast Research set a $90.00 price objective on Watts Water Technologies and gave the company a “buy” rating in a research note on Friday. Cowen reissued a “hold” rating and issued a $58.00 price objective on shares of Watts Water Technologies in a research note on Thursday, September 28th. KeyCorp reissued a “hold” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. Finally, Seaport Global Securities reissued a “neutral” rating on shares of Watts Water Technologies in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $77.33.

Shares of Watts Water Technologies (NYSE WTS) opened at $80.50 on Monday. Watts Water Technologies has a one year low of $59.15 and a one year high of $80.55. The company has a market capitalization of $2,748.91, a P/E ratio of 29.81, a P/E/G ratio of 2.00 and a beta of 1.16. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57.

In other news, insider Elie Melhem sold 2,545 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $70.48, for a total value of $179,371.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Pagano, Jr. sold 11,852 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $73.53, for a total value of $871,477.56. Following the completion of the transaction, the chief executive officer now owns 137,474 shares in the company, valued at approximately $10,108,463.22. The disclosure for this sale can be found here. Insiders sold 18,348 shares of company stock valued at $1,339,628 in the last three months. Insiders own 1.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. Riverhead Capital Management LLC lifted its holdings in shares of Watts Water Technologies by 44.3% in the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock valued at $109,000 after purchasing an additional 532 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Watts Water Technologies by 0.8% during the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after acquiring an additional 17 shares during the period. Quantbot Technologies LP lifted its holdings in Watts Water Technologies by 823.9% during the second quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock worth $144,000 after acquiring an additional 2,035 shares during the period. Ballentine Partners LLC bought a new stake in Watts Water Technologies during the third quarter worth $200,000. Finally, Suntrust Banks Inc. lifted its holdings in Watts Water Technologies by 1.0% during the second quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after acquiring an additional 31 shares during the period. Institutional investors own 77.68% of the company’s stock.

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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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