Equities analysts expect that Waters Co. (NYSE:WAT) will post sales of $598.04 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Waters’ earnings, with estimates ranging from $590.00 million to $600.35 million. Waters posted sales of $558.25 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The business is expected to issue its next earnings results before the market opens on Tuesday, July 24th.
On average, analysts expect that Waters will report full year sales of $2.47 billion for the current financial year, with estimates ranging from $2.45 billion to $2.49 billion. For the next financial year, analysts forecast that the company will report sales of $2.60 billion per share, with estimates ranging from $2.58 billion to $2.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Waters.
Waters (NYSE:WAT) last posted its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.04. Waters had a return on equity of 25.80% and a net margin of 1.14%. The business had revenue of $530.70 million for the quarter, compared to analysts’ expectations of $534.17 million. During the same quarter in the previous year, the firm earned $1.46 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis.
Waters opened at $196.48 on Friday, Marketbeat reports. Waters has a 1-year low of $171.32 and a 1-year high of $220.20. The company has a debt-to-equity ratio of 0.59, a quick ratio of 5.87 and a current ratio of 6.44. The firm has a market capitalization of $15.29 billion, a price-to-earnings ratio of 26.23, a price-to-earnings-growth ratio of 2.28 and a beta of 0.96.
Waters announced that its board has initiated a share repurchase plan on Tuesday, April 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to repurchase up to 18.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
In related news, VP Michael F. Silveira sold 3,521 shares of the business’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $190.77, for a total transaction of $671,701.17. Following the sale, the vice president now directly owns 4,470 shares in the company, valued at approximately $852,741.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael C. Harrington sold 16,078 shares of the business’s stock in a transaction on Monday, May 7th. The shares were sold at an average price of $194.67, for a total value of $3,129,904.26. Following the sale, the senior vice president now owns 18,115 shares in the company, valued at $3,526,447.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,689 shares of company stock worth $7,130,365. 0.98% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in WAT. OppenheimerFunds Inc. increased its stake in Waters by 16.2% in the 4th quarter. OppenheimerFunds Inc. now owns 1,860 shares of the medical instruments supplier’s stock worth $359,000 after acquiring an additional 259 shares during the last quarter. Allianz Asset Management GmbH increased its stake in Waters by 394.4% in the 4th quarter. Allianz Asset Management GmbH now owns 20,660 shares of the medical instruments supplier’s stock worth $3,991,000 after acquiring an additional 16,481 shares during the last quarter. AXA increased its stake in Waters by 5.3% in the 4th quarter. AXA now owns 30,308 shares of the medical instruments supplier’s stock worth $5,855,000 after acquiring an additional 1,513 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Waters by 359.9% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 157,768 shares of the medical instruments supplier’s stock worth $30,479,000 after acquiring an additional 123,464 shares during the last quarter. Finally, ETRADE Capital Management LLC increased its stake in Waters by 20.9% in the 4th quarter. ETRADE Capital Management LLC now owns 2,422 shares of the medical instruments supplier’s stock worth $468,000 after acquiring an additional 418 shares during the last quarter. Institutional investors and hedge funds own 92.17% of the company’s stock.
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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