Equities research analysts expect Watts Water Technologies (NYSE:WTS) to report $362.55 million in sales for the current quarter, Zacks reports. Seven analysts have provided estimates for Watts Water Technologies’ earnings, with the lowest sales estimate coming in at $352.00 million and the highest estimate coming in at $374.40 million. Watts Water Technologies posted sales of $347.20 million in the same quarter last year, which suggests a positive year over year growth rate of 4.4%. The business is scheduled to report its next quarterly earnings report after the market closes on Thursday, May 3rd.
On average, analysts expect that Watts Water Technologies will report full year sales of $1.53 billion for the current year, with estimates ranging from $1.51 billion to $1.55 billion. For the next year, analysts anticipate that the business will report sales of $1.58 billion per share, with estimates ranging from $1.55 billion to $1.61 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that follow Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $366.30 million during the quarter, compared to the consensus estimate of $365.35 million. Watts Water Technologies had a return on equity of 12.93% and a net margin of 5.02%. Watts Water Technologies’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 earnings per share.
WTS has been the subject of a number of analyst reports. Zacks Investment Research raised Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a report on Monday, January 22nd. Northcoast Research set a $90.00 price target on Watts Water Technologies and gave the company a “buy” rating in a report on Friday, January 19th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a report on Tuesday, January 16th. Janney Montgomery Scott raised Watts Water Technologies from a “neutral” rating to a “buy” rating in a report on Wednesday, February 14th. Finally, TheStreet downgraded Watts Water Technologies from a “b+” rating to a “c+” rating in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $80.40.
Shares of WTS opened at $78.35 on Tuesday. The stock has a market capitalization of $2,618.20, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10. Watts Water Technologies has a one year low of $59.15 and a one year high of $84.25. The company has a quick ratio of 1.60, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.
In other Watts Water Technologies news, CFO Todd A. Trapp sold 8,975 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.88, for a total transaction of $681,023.00. Following the sale, the chief financial officer now owns 26,129 shares in the company, valued at $1,982,668.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Munish Nanda sold 6,953 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $75.66, for a total value of $526,063.98. Following the sale, the insider now owns 31,560 shares in the company, valued at approximately $2,387,829.60. The disclosure for this sale can be found here. Insiders have sold 42,344 shares of company stock worth $3,239,332 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. SeaCrest Wealth Management LLC acquired a new stake in Watts Water Technologies during the fourth quarter valued at approximately $112,000. Xact Kapitalforvaltning AB acquired a new stake in Watts Water Technologies during the fourth quarter valued at approximately $224,000. Sawgrass Asset Management LLC acquired a new stake in shares of Watts Water Technologies during the 4th quarter worth approximately $270,000. Koch Industries Inc. raised its position in shares of Watts Water Technologies by 22.0% during the 4th quarter. Koch Industries Inc. now owns 3,821 shares of the technology company’s stock worth $290,000 after purchasing an additional 690 shares during the period. Finally, Quadrature Capital Ltd acquired a new stake in shares of Watts Water Technologies during the 4th quarter worth approximately $330,000. Hedge funds and other institutional investors own 77.22% of the company’s stock.
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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. It 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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