Watts Water Technologies Inc (WTS) Expected to Post Quarterly Sales of $380.04 Million

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Equities research analysts expect Watts Water Technologies Inc (NYSE:WTS) to announce sales of $380.04 million for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Watts Water Technologies’ earnings, with estimates ranging from $373.50 million to $388.40 million. Watts Water Technologies posted sales of $364.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.2%. The company is expected to announce its next earnings report after the market closes on Friday, November 2nd.

According to Zacks, analysts expect that Watts Water Technologies will report full-year sales of $1.55 billion for the current financial year, with estimates ranging from $1.54 billion to $1.57 billion. For the next financial year, analysts anticipate that the company will report sales of $1.60 billion, with estimates ranging from $1.58 billion to $1.65 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Wednesday, August 1st. The technology company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.04. Watts Water Technologies had a return on equity of 13.88% and a net margin of 5.83%. The company had revenue of $407.90 million for the quarter, compared to analyst estimates of $403.60 million. During the same quarter in the prior year, the firm posted $0.83 EPS. Watts Water Technologies’s quarterly revenue was up 7.8% compared to the same quarter last year.

Several equities analysts have commented on WTS shares. Seaport Global Securities reaffirmed a “hold” rating and issued a $83.00 price objective on shares of Watts Water Technologies in a research report on Thursday, August 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a research report on Tuesday, October 2nd. Stifel Nicolaus upped their price objective on Watts Water Technologies from $90.00 to $95.00 and gave the company a “buy” rating in a research report on Friday, August 3rd. Zacks Investment Research downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Finally, ValuEngine downgraded Watts Water Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $90.80.

In other news, insider Robert J. Pagano, Jr. sold 11,040 shares of the stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $85.36, for a total transaction of $942,374.40. Following the transaction, the insider now owns 116,545 shares of the company’s stock, valued at approximately $9,948,281.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elie Melhem sold 3,910 shares of the stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $82.32, for a total value of $321,871.20. Following the transaction, the insider now directly owns 22,991 shares in the company, valued at approximately $1,892,619.12. The disclosure for this sale can be found here. Insiders have sold a total of 25,065 shares of company stock worth $2,134,844 in the last three months. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of WTS. Wells Fargo & Company MN boosted its position in Watts Water Technologies by 80.2% during the first quarter. Wells Fargo & Company MN now owns 90,322 shares of the technology company’s stock valued at $7,018,000 after purchasing an additional 40,205 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Watts Water Technologies by 50.2% during the first quarter. Russell Investments Group Ltd. now owns 79,350 shares of the technology company’s stock valued at $6,164,000 after purchasing an additional 26,531 shares in the last quarter. Sei Investments Co. boosted its position in Watts Water Technologies by 18.6% during the first quarter. Sei Investments Co. now owns 11,849 shares of the technology company’s stock valued at $921,000 after purchasing an additional 1,856 shares in the last quarter. Stifel Financial Corp boosted its position in Watts Water Technologies by 49.5% during the first quarter. Stifel Financial Corp now owns 7,142 shares of the technology company’s stock valued at $560,000 after purchasing an additional 2,364 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new stake in Watts Water Technologies during the first quarter valued at about $403,000. 76.91% of the stock is currently owned by institutional investors.

NYSE:WTS traded down $0.16 during midday trading on Wednesday, hitting $69.64. 19,220 shares of the company traded hands, compared to its average volume of 97,077. Watts Water Technologies has a 12-month low of $66.55 and a 12-month high of $93.35. The firm has a market capitalization of $2.36 billion, a PE ratio of 23.06, a PEG ratio of 1.67 and a beta of 1.01. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.38 and a current ratio of 2.29.

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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