FY2016 Earnings Forecast for Watts Water Technologies Inc. (WTS) Issued By Northcoast Research
Watts Water Technologies Inc. (NYSE:WTS) – Northcoast Research issued their FY2016 EPS estimates for Watts Water Technologies in a research note issued to investors on Tuesday. Northcoast Research analyst A. Cohen expects that the firm will post earnings of $2.67 per share for the year. Northcoast Research also issued estimates for Watts Water Technologies’ Q4 2016 earnings at $0.65 EPS, Q1 2017 earnings at $0.69 EPS, Q2 2017 earnings at $0.76 EPS, Q3 2017 earnings at $0.74 EPS, Q4 2017 earnings at $0.76 EPS and FY2017 earnings at $2.95 EPS.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $341 million for the quarter, compared to analysts’ expectations of $352.64 million. Watts Water Technologies had a positive return on equity of 12.41% and a negative net margin of 3.64%. The company’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.67 EPS.
WTS has been the subject of several other research reports. Janney Montgomery Scott initiated coverage on shares of Watts Water Technologies in a research note on Friday, September 16th. They set a “neutral” rating and a $63.00 price target for the company. Zacks Investment Research lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, October 19th. Seven investment analysts have rated the stock with 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 $61.40.
Watts Water Technologies (NYSE:WTS) opened at 68.35 on Friday. The company’s market capitalization is $2.34 billion. Watts Water Technologies has a 12-month low of $44.51 and a 12-month high of $68.45. The stock’s 50 day moving average price is $62.78 and its 200 day moving average price is $60.85.
A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Watts Water Technologies by 4.2% in the second quarter. Vanguard Group Inc. now owns 2,223,809 shares of the company’s stock valued at $129,559,000 after buying an additional 89,676 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Watts Water Technologies by 7.5% in the third quarter. BlackRock Fund Advisors now owns 1,931,896 shares of the company’s stock worth $125,264,000 after buying an additional 135,475 shares during the period. Impax Asset Management LTD raised its stake in shares of Watts Water Technologies by 5.3% in the second quarter. Impax Asset Management LTD now owns 1,597,537 shares of the company’s stock worth $93,073,000 after buying an additional 79,740 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in shares of Watts Water Technologies by 16.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 772,637 shares of the company’s stock worth $50,098,000 after buying an additional 107,021 shares during the period. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Watts Water Technologies by 12.2% in the second quarter. Silvercrest Asset Management Group LLC now owns 691,113 shares of the company’s stock worth $40,265,000 after buying an additional 74,875 shares during the period. 82.15% of the stock is currently owned by institutional investors and hedge funds.
In other Watts Water Technologies news, General Counsel Kenneth Robert Lepage sold 31,362 shares of Watts Water Technologies stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $64.53, for a total value of $2,023,789.86. Following the transaction, the general counsel now directly owns 75,727 shares of the company’s stock, valued at $4,886,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.40% of the stock is currently owned by company insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, November 30th. Watts Water Technologies’s dividend payout ratio is currently -48.65%.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc (Watts) 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.
Receive News & Stock Ratings for Watts Water Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Watts Water Technologies Inc. and related stocks with our FREE daily email newsletter.