Waters (NYSE:WAT) Posts Earnings Results, Beats Estimates By $0.11 EPS

Waters (NYSE:WAT) announced its earnings results on Tuesday. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11, Briefing.com reports. Waters had a return on equity of 81.30% and a net margin of 21.72%. The firm had revenue of $636.80 million during the quarter, compared to analysts’ expectations of $635.57 million. During the same quarter in the prior year, the business earned $2.49 earnings per share. The company’s revenue was down 7.0% on a year-over-year basis. Waters updated its Q2 guidance to $2.50-2.60 EPS and its FY24 guidance to $11.75-12.05 EPS.

Waters Stock Performance

Shares of WAT traded up $1.14 during midday trading on Wednesday, reaching $327.20. The stock had a trading volume of 91,412 shares, compared to its average volume of 416,817. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00. The firm has a 50 day simple moving average of $333.23 and a 200-day simple moving average of $310.76. The firm has a market cap of $19.41 billion, a PE ratio of 30.06, a P/E/G ratio of 6.39 and a beta of 0.98. Waters has a one year low of $231.90 and a one year high of $363.80.

Insiders Place Their Bets

In related news, Director Linda Baddour sold 500 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total value of $177,770.00. Following the sale, the director now owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.82% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on WAT shares. Evercore ISI upped their price target on shares of Waters from $320.00 to $340.00 and gave the company an “in-line” rating in a report on Thursday, April 4th. Robert W. Baird reduced their price target on shares of Waters from $319.00 to $312.00 and set a “neutral” rating for the company in a report on Wednesday. Stifel Nicolaus raised their price objective on Waters from $330.00 to $332.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Barclays boosted their target price on shares of Waters from $275.00 to $300.00 and gave the company an “underweight” rating in a research note on Monday, February 12th. One research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, Waters currently has an average rating of “Hold” and a consensus target price of $301.56.

About Waters

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.