Watts Water Technologies Inc. to Post FY2016 Earnings of $2.65 Per Share, Gabelli Forecasts (WTS)
Watts Water Technologies Inc. (NYSE:WTS) – Equities research analysts at Gabelli reduced their FY2016 earnings estimates for shares of Watts Water Technologies in a research report issued on Friday. Gabelli analyst J. Foung now forecasts that the firm will earn $2.65 per share for the year, down from their prior forecast of $2.70. Gabelli also issued estimates for Watts Water Technologies’ FY2017 earnings at $3.00 EPS, FY2018 earnings at $3.55 EPS, FY2019 earnings at $4.05 EPS and FY2020 earnings at $4.60 EPS.
Several other research firms also recently commented on WTS. Zacks Investment Research downgraded shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Thursday. Janney Montgomery Scott assumed coverage on shares of Watts Water Technologies in a research report on Friday, September 16th. They set a “neutral” rating and a $63.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $61.40.
Watts Water Technologies (NYSE:WTS) opened at 68.35 on Monday. Watts Water Technologies has a 1-year low of $44.51 and a 1-year high of $68.45. The firm’s market cap is $2.34 billion. The company has a 50 day moving average price of $62.78 and a 200 day moving average price of $60.85.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, November 2nd. The company reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.02. Watts Water Technologies had a positive return on equity of 12.41% and a negative net margin of 3.64%. The business had revenue of $341 million for the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter in the previous year, the firm posted $0.67 earnings per share. The company’s revenue was down 6.9% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Wednesday, November 30th. Watts Water Technologies’s dividend payout ratio is currently -48.65%.
In other news, General Counsel Kenneth Robert Lepage sold 31,362 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $64.53, for a total value of $2,023,789.86. Following the sale, the general counsel now directly owns 75,727 shares of the company’s stock, valued at $4,886,663.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.40% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Advisor Group Inc. acquired a new stake in shares of Watts Water Technologies during the second quarter valued at about $100,000. Tower Research Capital LLC TRC increased its stake in shares of Watts Water Technologies by 1,543.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,808 shares of the company’s stock valued at $105,000 after buying an additional 1,698 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Watts Water Technologies during the second quarter valued at about $118,000. Public Employees Retirement System of Ohio increased its stake in shares of Watts Water Technologies by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 2,203 shares of the company’s stock valued at $128,000 after buying an additional 45 shares in the last quarter. Finally, BlackRock Japan Co. Ltd acquired a new stake in shares of Watts Water Technologies during the third quarter valued at about $144,000. 82.15% of the stock is currently owned by institutional investors.
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.
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