Analysts Offer Predictions for Watts Water Technologies Inc.’s FY2017 Earnings (WTS)
Watts Water Technologies Inc. (NYSE:WTS) – Stock analysts at Gabelli lifted their FY2017 EPS estimates for Watts Water Technologies in a report released on Thursday. Gabelli analyst J. Foung now forecasts that the brokerage will post earnings per share of $3.05 for the year, up from their previous estimate of $3.00.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.71 EPS for the quarter, beating the Zacks’ 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 company earned $341 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same period in the prior year, the company earned $0.67 EPS. Watts Water Technologies’s revenue was down 6.9% compared to the same quarter last year.
A number of other research analysts have also weighed in on WTS. Janney Montgomery Scott started coverage on shares of Watts Water Technologies in a research note on Friday, September 16th. They issued a “neutral” rating and a $63.00 price objective for the company. Zacks Investment Research lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 19th. Seven research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $61.40.
Watts Water Technologies (NYSE:WTS) opened at 68.25 on Monday. 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 $69.85. The company’s 50-day moving average price is $63.66 and its 200 day moving average price is $61.53.
The company 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 dividend of $0.18 per share. The ex-dividend date is Wednesday, November 30th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.05%. Watts Water Technologies’s dividend payout ratio (DPR) is currently -48.65%.
In related news, insider Elie Melhem sold 6,143 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $67.78, for a total value of $416,372.54. Following the completion of the transaction, the insider now directly owns 32,464 shares in the company, valued at $2,200,409.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard J. Cathcart sold 1,000 shares of the company’s stock in a transaction on Monday, November 14th. The stock was sold at an average price of $68.47, for a total transaction of $68,470.00. Following the completion of the transaction, the director now owns 18,032 shares of the company’s stock, valued at $1,234,651.04. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Advisor Group Inc. acquired a new stake in Watts Water Technologies during the second quarter valued at $100,000. Tower Research Capital LLC TRC increased its stake in 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 Watts Water Technologies during the second quarter valued at $118,000. Public Employees Retirement System of Ohio increased its stake in 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 Watts Water Technologies during the third quarter valued at $144,000. Institutional investors own 82.88% of the company’s stock.
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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