Analysts forecast that Watts Water Technologies Inc (NYSE:WTS) will announce earnings of $1.01 per share for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Watts Water Technologies’ earnings, with estimates ranging from $0.97 to $1.04. Watts Water Technologies reported earnings per share of $0.83 in the same quarter last year, which suggests a positive year-over-year growth rate of 21.7%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 1st.
On average, analysts expect that Watts Water Technologies will report full year earnings of $3.69 per share for the current year, with EPS estimates ranging from $3.62 to $3.75. For the next fiscal year, analysts forecast that the company will report earnings of $4.03 per share, with EPS estimates ranging from $3.90 to $4.16. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Watts Water Technologies.
Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Thursday, May 3rd. The technology company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.03. Watts Water Technologies had a return on equity of 13.26% and a net margin of 5.35%. The company had revenue of $378.50 million during the quarter, compared to analyst estimates of $365.01 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Watts Water Technologies’s revenue was up 9.0% compared to the same quarter last year.
Several analysts recently commented on the company. Boenning Scattergood lowered Watts Water Technologies from an “outperform” rating to a “neutral” rating in a report on Wednesday, March 21st. Zacks Investment Research lowered Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 19th. ValuEngine raised Watts Water Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, April 18th. Robert W. Baird reaffirmed a “hold” rating and issued a $80.00 price objective on shares of Watts Water Technologies in a report on Wednesday, February 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $90.00 price target (down previously from $95.00) on shares of Watts Water Technologies in a report on Wednesday, February 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Watts Water Technologies currently has an average rating of “Hold” and a consensus price target of $81.40.
In other Watts Water Technologies news, insider Elie Melhem sold 3,449 shares of the business’s stock in a transaction dated Wednesday, May 16th. The stock was sold at an average price of $77.11, for a total transaction of $265,952.39. Following the completion of the sale, the insider now owns 27,519 shares of the company’s stock, valued at $2,121,990.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. SeaCrest Wealth Management LLC bought a new stake in Watts Water Technologies during the fourth quarter valued at about $112,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Watts Water Technologies in the first quarter valued at about $170,000. CIBC Asset Management Inc purchased a new position in shares of Watts Water Technologies in the first quarter valued at about $203,000. Evergreen Capital Management LLC purchased a new position in shares of Watts Water Technologies in the first quarter valued at about $219,000. Finally, Xact Kapitalforvaltning AB purchased a new position in shares of Watts Water Technologies in the fourth quarter valued at about $224,000. 75.91% of the stock is owned by institutional investors and hedge funds.
Shares of WTS traded down $0.45 during trading hours on Wednesday, hitting $80.10. The stock had a trading volume of 146,849 shares, compared to its average volume of 118,381. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.40 and a quick ratio of 1.47. Watts Water Technologies has a 12 month low of $59.15 and a 12 month high of $84.25. The firm has a market capitalization of $2.74 billion, a P/E ratio of 26.52, a PEG ratio of 1.81 and a beta of 1.12.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, June 1st will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 1.05%. The ex-dividend date is Thursday, May 31st. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.19. Watts Water Technologies’s payout ratio is currently 27.81%.
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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