Watts Water Technologies, Inc. (WTS) Expected to Announce Earnings of $0.77 Per Share
Wall Street analysts expect that Watts Water Technologies, Inc. (NYSE:WTS) will report $0.77 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Watts Water Technologies’ earnings, with the lowest EPS estimate coming in at $0.72 and the highest estimate coming in at $0.79. Watts Water Technologies posted earnings per share of $0.71 in the same quarter last year, which indicates a positive year over year growth rate of 8.5%. The company is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Watts Water Technologies will report full-year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.90 to $3.02. For the next fiscal year, analysts anticipate that the company will post earnings of $3.27 per share, with EPS estimates ranging from $3.21 to $3.38. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The company had revenue of $378.50 million for the quarter, compared to analyst estimates of $379.51 million. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year.
Several equities analysts have recently weighed in on WTS shares. BidaskClub lowered Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $64.50.
In related news, insider Elie Melhem sold 1,281 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $64.42, for a total transaction of $82,522.02. Following the sale, the insider now directly owns 29,493 shares in the company, valued at approximately $1,899,939.06. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of Watts Water Technologies by 14,402.8% in the first quarter. BlackRock Inc. now owns 3,566,232 shares of the technology company’s stock valued at $222,353,000 after buying an additional 3,541,642 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Watts Water Technologies by 9.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 172,155 shares of the technology company’s stock valued at $10,734,000 after buying an additional 14,482 shares during the last quarter. Schroder Investment Management Group increased its stake in Watts Water Technologies by 71.0% in the first quarter. Schroder Investment Management Group now owns 47,829 shares of the technology company’s stock valued at $2,985,000 after buying an additional 19,851 shares in the last quarter. Morgan Stanley increased its stake in Watts Water Technologies by 0.9% in the first quarter. Morgan Stanley now owns 162,153 shares of the technology company’s stock valued at $10,110,000 after buying an additional 1,439 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its stake in Watts Water Technologies by 3.8% in the first quarter. Thrivent Financial For Lutherans now owns 15,700 shares of the technology company’s stock valued at $979,000 after buying an additional 580 shares in the last quarter. Institutional investors and hedge funds own 77.64% of the company’s stock.
Watts Water Technologies (WTS) traded up 0.57% during mid-day trading on Friday, hitting $62.05. 89,787 shares of the company were exchanged. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 24.24 and a beta of 1.07. Watts Water Technologies has a 12 month low of $58.35 and a 12 month high of $71.05. The firm has a 50 day moving average price of $63.81 and a 200 day moving average price of $62.79.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.22%. Watts Water Technologies’s payout ratio is currently 29.69%.
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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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