Brokerages expect that Watts Water Technologies Inc (NYSE:WTS) will post earnings of $1.04 per share for the current quarter, according to Zacks Investment Research. Seven analysts have made estimates for Watts Water Technologies’ earnings. The highest EPS estimate is $1.05 and the lowest is $1.02. Watts Water Technologies posted earnings per share of $0.99 during the same quarter last year, which would suggest a positive year over year growth rate of 5.1%. The business is expected to announce its next earnings results on Friday, November 1st.
According to Zacks, analysts expect that Watts Water Technologies will report full year earnings of $4.06 per share for the current fiscal year, with EPS estimates ranging from $4.04 to $4.08. For the next year, analysts forecast that the company will post earnings of $4.34 per share, with EPS estimates ranging from $4.18 to $4.44. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings data on Wednesday, July 31st. The technology company reported $1.09 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.10 by ($0.01). The company had revenue of $416.80 million for the quarter, compared to analyst estimates of $416.26 million. Watts Water Technologies had a return on equity of 14.76% and a net margin of 8.08%. Watts Water Technologies’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share.
Several research analysts have weighed in on WTS shares. Stifel Nicolaus raised their price objective on shares of Watts Water Technologies from $102.00 to $107.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Zacks Investment Research lowered shares of Watts Water Technologies from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Friday, May 31st. ValuEngine lowered shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Janney Montgomery Scott lowered shares of Watts Water Technologies from a “buy” rating to a “neutral” rating and set a $93.26 price objective for the company. in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $95.09.
A number of hedge funds have recently made changes to their positions in WTS. Rhumbline Advisers grew its position in Watts Water Technologies by 1.2% in the first quarter. Rhumbline Advisers now owns 85,288 shares of the technology company’s stock worth $6,893,000 after acquiring an additional 1,015 shares in the last quarter. Everence Capital Management Inc. grew its holdings in Watts Water Technologies by 86.6% during the second quarter. Everence Capital Management Inc. now owns 7,090 shares of the technology company’s stock valued at $661,000 after purchasing an additional 3,290 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Watts Water Technologies by 1.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,850 shares of the technology company’s stock valued at $918,000 after purchasing an additional 120 shares during the period. Janney Montgomery Scott LLC bought a new stake in Watts Water Technologies during the second quarter valued at about $523,000. Finally, Great West Life Assurance Co. Can grew its holdings in Watts Water Technologies by 5.5% during the first quarter. Great West Life Assurance Co. Can now owns 38,155 shares of the technology company’s stock valued at $3,083,000 after purchasing an additional 1,994 shares during the period. 76.31% of the stock is owned by institutional investors.
WTS stock traded down $0.30 during mid-day trading on Monday, hitting $98.85. 47,282 shares of the company were exchanged, compared to its average volume of 115,672. The company has a market capitalization of $3.34 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 3.03 and a beta of 1.18. The company has a current ratio of 1.86, a quick ratio of 1.14 and a debt-to-equity ratio of 0.26. Watts Water Technologies has a twelve month low of $61.17 and a twelve month high of $100.05. The firm has a fifty day simple moving average of $92.55 and a 200 day simple moving average of $86.89.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 30th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 0.93%. The ex-dividend date was Thursday, August 29th. Watts Water Technologies’s dividend payout ratio is currently 24.60%.
About Watts Water Technologies
Watts Water Technologies, Inc designs, manufactures, and sells products and systems that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The company offers residential and commercial flow control products, including backflow preventers, water pressure regulators, temperature and pressure relief valves, and thermostatic mixing valves.
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