$1.74 EPS Expected for Waters Corporation (NYSE:WAT) This Quarter
Brokerages expect Waters Corporation (NYSE:WAT) to post earnings per share (EPS) of $1.74 for the current fiscal quarter, according to Zacks. Eight analysts have issued estimates for Waters Corporation’s earnings, with the highest EPS estimate coming in at $1.77 and the lowest estimate coming in at $1.72. Waters Corporation reported earnings per share of $1.57 during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.8%. The firm is expected to announce its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that Waters Corporation will report full-year earnings of $7.38 per share for the current financial year, with EPS estimates ranging from $7.35 to $7.43. For the next year, analysts expect that the company will post earnings of $8.03 per share, with EPS estimates ranging from $7.90 to $8.21. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Waters Corporation.
Waters Corporation (NYSE:WAT) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.05. Waters Corporation had a return on equity of 23.91% and a net margin of 24.26%. The business had revenue of $558.30 million for the quarter, compared to analysts’ expectations of $553.22 million. During the same quarter last year, the firm earned $1.58 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis.
Several analysts have issued reports on the stock. Bank of America Corporation reissued a “neutral” rating and set a $192.00 target price (up from $180.00) on shares of Waters Corporation in a research note on Friday, July 21st. Deutsche Bank AG downgraded shares of Waters Corporation from a “buy” rating to a “hold” rating and boosted their target price for the company from $183.00 to $194.00 in a research note on Monday, July 10th. Cowen and Company reissued a “hold” rating and set a $190.00 target price on shares of Waters Corporation in a research note on Friday, July 14th. Jefferies Group LLC reissued a “hold” rating and set a $170.00 target price on shares of Waters Corporation in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded shares of Waters Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $186.00.
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Waters Corporation (WAT) traded down 0.50% during midday trading on Friday, hitting $176.96. The stock had a trading volume of 77,792 shares. The firm has a 50 day moving average price of $182.20 and a 200 day moving average price of $166.11. The stock has a market cap of $14.15 billion, a PE ratio of 26.67 and a beta of 0.84. Waters Corporation has a one year low of $133.35 and a one year high of $187.65.
Waters Corporation declared that its board has authorized a share buyback program on Thursday, May 11th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the medical instruments supplier to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, SVP Rohit Khanna sold 23,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $186.90, for a total value of $4,298,700.00. Following the transaction, the senior vice president now directly owns 27,077 shares of the company’s stock, valued at $5,060,691.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael C. Harrington sold 24,000 shares of the company’s stock in a transaction on Friday, May 19th. The stock was sold at an average price of $175.33, for a total transaction of $4,207,920.00. Following the completion of the transaction, the senior vice president now directly owns 28,073 shares in the company, valued at $4,922,039.09. The disclosure for this sale can be found here. Insiders sold 96,700 shares of company stock worth $17,382,247 over the last ninety days. 5.07% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Waters Corporation by 3.0% in the first quarter. Vanguard Group Inc. now owns 7,497,760 shares of the medical instruments supplier’s stock worth $1,171,975,000 after buying an additional 216,162 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Waters Corporation by 2,810.7% in the first quarter. BlackRock Inc. now owns 5,349,711 shares of the medical instruments supplier’s stock worth $836,212,000 after buying an additional 5,165,917 shares in the last quarter. State Street Corp boosted its stake in shares of Waters Corporation by 1.7% in the first quarter. State Street Corp now owns 3,446,000 shares of the medical instruments supplier’s stock worth $538,641,000 after buying an additional 58,746 shares in the last quarter. Fundsmith LLP boosted its stake in shares of Waters Corporation by 11.3% in the first quarter. Fundsmith LLP now owns 3,432,535 shares of the medical instruments supplier’s stock worth $536,540,000 after buying an additional 349,178 shares in the last quarter. Finally, Janus Capital Management LLC boosted its stake in shares of Waters Corporation by 18.2% in the first quarter. Janus Capital Management LLC now owns 2,309,646 shares of the medical instruments supplier’s stock worth $361,021,000 after buying an additional 356,395 shares in the last quarter. 92.42% of the stock is currently owned by institutional investors and hedge funds.
Waters Corporation Company Profile
Waters Corporation is an analytical instrument manufacturer. The Company operates through two segments: Waters and TA. It designs, manufactures, sells and services high performance liquid chromatography (HPLC), ultra performance liquid chromatography (UPLC and together with HPLC, referred to as LC) and mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products and post-warranty service plans.
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