Zacks: Analysts Expect Watts Water Technologies (WTS) Will Post Earnings of $1.01 Per Share

Equities analysts expect Watts Water Technologies (NYSE:WTS) to post earnings of $1.01 per share for the current quarter, according to Zacks. Seven analysts have made estimates for Watts Water Technologies’ earnings. The lowest EPS estimate is $0.97 and the highest is $1.04. Watts Water Technologies reported earnings of $0.83 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.7%. The firm is expected to report its next earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that Watts Water Technologies will report full-year earnings of $3.68 per share for the current financial year, with EPS estimates ranging from $3.62 to $3.75. For the next year, analysts expect that the firm will post earnings of $4.02 per share, with EPS estimates ranging from $3.90 to $4.16. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that cover Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Thursday, May 3rd. The technology company reported $0.82 earnings per share for the quarter, beating the Zacks’ 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 period last year, the company posted $0.65 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year.

Several equities analysts recently issued reports on WTS shares. Zacks Investment Research cut Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 19th. ValuEngine cut Watts Water Technologies from a “buy” rating to a “hold” rating in a report on Friday, April 27th. Boenning Scattergood cut Watts Water Technologies from an “outperform” rating to a “neutral” rating in a report on Wednesday, March 21st. Robert W. Baird raised their price target on Watts Water Technologies to $80.00 and gave the company a “neutral” rating in a report on Monday, May 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $90.00 price target (down previously from $95.00) on shares of Watts Water Technologies in a report on Wednesday, February 14th. One research 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 an average target price of $81.40.

In other Watts Water Technologies news, insider Elie Melhem sold 3,449 shares of the firm’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 transaction, the insider now owns 27,519 shares in the company, valued at $2,121,990.09. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Robert J. Pagano, Jr. sold 16,248 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $76.89, for a total value of $1,249,308.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,865 shares of company stock worth $2,298,197. Company insiders own 1.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of WTS. BlackRock Inc. boosted its holdings in Watts Water Technologies by 12.7% during the fourth quarter. BlackRock Inc. now owns 3,978,819 shares of the technology company’s stock worth $302,190,000 after buying an additional 448,313 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in Watts Water Technologies by 17.6% during the fourth quarter. Victory Capital Management Inc. now owns 906,662 shares of the technology company’s stock worth $68,860,000 after buying an additional 135,454 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Watts Water Technologies by 119.0% during the 1st quarter. JPMorgan Chase & Co. now owns 181,609 shares of the technology company’s stock valued at $14,111,000 after purchasing an additional 98,688 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Watts Water Technologies by 32.1% during the 4th quarter. Deutsche Bank AG now owns 336,741 shares of the technology company’s stock valued at $25,572,000 after purchasing an additional 81,845 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of Watts Water Technologies during the 1st quarter valued at about $5,051,000. Hedge funds and other institutional investors own 77.35% of the company’s stock.

Watts Water Technologies stock opened at $77.45 on Friday. The stock has a market capitalization of $2.64 billion, a P/E ratio of 25.65, a PEG ratio of 1.75 and a beta of 1.11. Watts Water Technologies has a 12-month low of $59.15 and a 12-month high of $84.25. The company has a current ratio of 2.40, a quick ratio of 1.47 and a debt-to-equity ratio of 0.50.

The business also recently announced 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. The ex-dividend date of this dividend is Thursday, May 31st. This represents a $0.84 dividend on an annualized basis and a yield of 1.08%. This is a boost from Watts Water Technologies’s previous quarterly dividend of $0.19. Watts Water Technologies’s dividend payout ratio (DPR) is 25.17%.

Watts Water Technologies Company Profile

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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Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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