Equities research analysts forecast that Watts Water Technologies, Inc. (NYSE:WTS) will report $0.74 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Watts Water Technologies’ earnings. The highest EPS estimate is $0.81 and the lowest is $0.71. Watts Water Technologies posted earnings per share of $0.64 during the same quarter last year, which would suggest a positive year-over-year growth rate of 15.6%. The business is expected to announce its next earnings report on Thursday, February 8th.
According to Zacks, analysts expect that Watts Water Technologies will report full-year earnings of $3.01 per share for the current year, with EPS estimates ranging from $2.99 to $3.04. For the next year, analysts expect that the company will post earnings of $3.30 per share, with EPS estimates ranging from $3.24 to $3.35. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.03. The business had revenue of $347.70 million for the quarter, compared to the consensus estimate of $361.22 million. Watts Water Technologies had a net margin of 6.49% and a return on equity of 12.90%. The company’s revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.71 earnings per share.
Several equities research analysts have commented on WTS shares. BidaskClub downgraded shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Boenning Scattergood reaffirmed an “outperform” rating on shares of Watts Water Technologies in a report on Tuesday, September 5th. Northcoast Research raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Monday, September 18th. Stifel Nicolaus started coverage on shares of Watts Water Technologies in a report on Monday, September 18th. They set a “buy” rating and a $72.00 price objective on the stock. Finally, Cowen and Company reaffirmed a “hold” rating and set a $58.00 price objective on shares of Watts Water Technologies in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $72.83.
In other news, insider Elie Melhem sold 3,306 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the sale, the insider now directly owns 32,128 shares in the company, valued at $1,995,470.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Riverhead Capital Management LLC increased its position in shares of Watts Water Technologies by 44.3% in the second quarter. Riverhead Capital Management LLC now owns 1,732 shares of the technology company’s stock worth $109,000 after purchasing an additional 532 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Watts Water Technologies by 157.1% in the second quarter. Acrospire Investment Management LLC now owns 1,800 shares of the technology company’s stock worth $114,000 after purchasing an additional 1,100 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Watts Water Technologies by 0.8% in the second quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after purchasing an additional 17 shares during the last quarter. Bruderman Asset Management LLC bought a new position in shares of Watts Water Technologies in the second quarter worth approximately $130,000. Finally, Quantbot Technologies LP increased its position in shares of Watts Water Technologies by 823.9% in the second quarter. Quantbot Technologies LP now owns 2,282 shares of the technology company’s stock worth $144,000 after purchasing an additional 2,035 shares during the last quarter. Hedge funds and other institutional investors own 78.12% of the company’s stock.
Watts Water Technologies (WTS) traded up $0.15 during midday trading on Friday, reaching $70.50. 125,700 shares of the company’s stock traded hands, compared to its average volume of 127,030. The stock has a market capitalization of $2,410.00, a P/E ratio of 24.09, a PEG ratio of 1.95 and a beta of 1.12. Watts Water Technologies has a 1-year low of $59.15 and a 1-year high of $71.05. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.70 and a current ratio of 2.57.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Thursday, November 30th. Watts Water Technologies’s dividend payout ratio is presently 28.25%.
About Watts Water Technologies
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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