Waters Corporation Expected to Earn Q3 2017 Earnings of $1.75 Per Share (WAT)
Waters Corporation (NYSE:WAT) – Jefferies Group upped their Q3 2017 EPS estimates for Waters Corporation in a report issued on Tuesday. Jefferies Group analyst B. Couillard now expects that the medical instruments supplier will post earnings of $1.75 per share for the quarter, up from their previous forecast of $1.73. Jefferies Group currently has a “Hold” rating and a $175.00 price target on the stock. Jefferies Group also issued estimates for Waters Corporation’s Q4 2017 earnings at $2.43 EPS, FY2017 earnings at $7.40 EPS, Q1 2018 earnings at $1.74 EPS, Q2 2018 earnings at $1.97 EPS, Q3 2018 earnings at $1.97 EPS, Q4 2018 earnings at $2.33 EPS, FY2018 earnings at $8.00 EPS and FY2019 earnings at $8.55 EPS.
Waters Corporation (NYSE:WAT) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.71 by $0.05. The firm had revenue of $558.30 million during the quarter, compared to analyst estimates of $553.22 million. Waters Corporation had a net margin of 24.26% and a return on equity of 23.91%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business earned $1.58 earnings per share. COPYRIGHT VIOLATION WARNING: This story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/07/waters-corporation-expected-to-earn-q3-2017-earnings-of-1-75-per-share-wat-updated.html.
Several other research analysts also recently weighed in on WAT. Zacks Investment Research upgraded Waters Corporation from a “hold” rating to a “buy” rating and set a $178.00 price target for the company in a research note on Monday, April 24th. Cantor Fitzgerald restated a “buy” rating and issued a $190.00 price target (up from $170.00) on shares of Waters Corporation in a research note on Tuesday, April 25th. Cowen and Company upped their price target on Waters Corporation from $160.00 to $175.00 and gave the stock a “market perform” rating in a research note on Wednesday, April 26th. Barclays PLC set a $160.00 price target on Waters Corporation and gave the stock a “hold” rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $183.00 price target (up from $166.00) on shares of Waters Corporation in a research note on Saturday, April 29th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $186.73.
Waters Corporation (WAT) opened at 173.23 on Wednesday. Waters Corporation has a 12 month low of $133.35 and a 12 month high of $187.65. The firm’s 50-day moving average is $183.09 and its 200-day moving average is $164.96. The company has a market cap of $13.86 billion, a price-to-earnings ratio of 26.34 and a beta of 0.85.
Waters Corporation announced that its board has authorized a stock buyback plan on Thursday, May 11th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
In related news, SVP Rohit Khanna sold 23,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $186.90, for a total transaction of $4,298,700.00. Following the sale, the senior vice president now owns 27,077 shares in the company, valued at approximately $5,060,691.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Eugene G. Cassis sold 4,280 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $184.27, for a total value of $788,675.60. Following the sale, the senior vice president now owns 22,047 shares in the company, valued at approximately $4,062,600.69. The disclosure for this sale can be found here. Insiders have sold a total of 142,078 shares of company stock valued at $25,233,423 over the last quarter. Corporate insiders own 5.07% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in WAT. Fundsmith LLP raised its stake in Waters Corporation by 11.3% in the first quarter. Fundsmith LLP now owns 3,432,535 shares of the medical instruments supplier’s stock valued at $536,540,000 after buying an additional 349,178 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in Waters Corporation by 1.1% in the first quarter. Gulf International Bank UK Ltd now owns 24,422 shares of the medical instruments supplier’s stock valued at $3,817,000 after buying an additional 260 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Waters Corporation by 42.7% in the first quarter. TIAA CREF Investment Management LLC now owns 375,413 shares of the medical instruments supplier’s stock valued at $58,681,000 after buying an additional 112,335 shares during the last quarter. Raymond James Trust N.A. bought a new stake in Waters Corporation during the first quarter valued at $272,000. Finally, Karp Capital Management Corp bought a new stake in Waters Corporation during the first quarter valued at $12,133,000. Institutional investors own 91.79% of the company’s stock.
About Waters Corporation
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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