Watts Water Technologies, Inc. (NYSE:WTS) to Post Q2 2018 Earnings of $0.91 Per Share, Boenning Scattergood Forecasts
Watts Water Technologies, Inc. (NYSE:WTS) – Investment analysts at Boenning Scattergood increased their Q2 2018 earnings estimates for shares of Watts Water Technologies in a research note issued to investors on Thursday. Boenning Scattergood analyst R. Connors now anticipates that the technology company will post earnings per share of $0.91 for the quarter, up from their previous forecast of $0.89. Boenning Scattergood also issued estimates for Watts Water Technologies’ Q4 2018 earnings at $0.83 EPS and FY2018 earnings at $3.25 EPS.
Several other equities research analysts have also recently issued reports on WTS. BidaskClub cut Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research note on Wednesday, June 14th. Finally, Zacks Investment Research upgraded Watts Water Technologies from a “sell” rating to a “hold” rating in a research note on Thursday, April 13th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $64.50.
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Watts Water Technologies (NYSE WTS) opened at 66.20 on Monday. The firm has a market capitalization of $2.28 billion, a PE ratio of 25.86 and a beta of 1.07. The stock has a 50 day moving average price of $63.18 and a 200-day moving average price of $62.97. Watts Water Technologies has a one year low of $58.35 and a one year high of $71.05.
Watts Water Technologies (NYSE:WTS) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.04. Watts Water Technologies had a return on equity of 12.84% and a net margin of 6.27%. The business had revenue of $378.50 million during the quarter, compared to analysts’ expectations of $379.51 million. During the same period in the prior year, the firm posted $0.75 EPS. Watts Water Technologies’s quarterly revenue was up 2.0% compared to the same quarter last year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, August 30th. Watts Water Technologies’s dividend payout ratio (DPR) is currently 29.69%.
In related news, insider Elie Melhem sold 1,281 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $64.42, for a total value of $82,522.02. Following the completion of the sale, the insider now directly owns 29,493 shares in the company, valued at $1,899,939.06. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.10% of the company’s stock.
Several large investors have recently modified their holdings of the stock. Clean Yield Group bought a new stake in shares of Watts Water Technologies during the first quarter valued at about $108,000. Glen Harbor Capital Management LLC boosted its stake in shares of Watts Water Technologies by 12.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,960 shares of the technology company’s stock valued at $122,000 after buying an additional 224 shares during the period. Bank of Montreal Can boosted its stake in shares of Watts Water Technologies by 8.8% in the first quarter. Bank of Montreal Can now owns 2,223 shares of the technology company’s stock valued at $138,000 after buying an additional 180 shares during the period. Elkfork Partners LLC boosted its stake in shares of Watts Water Technologies by 12.9% in the first quarter. Elkfork Partners LLC now owns 2,380 shares of the technology company’s stock valued at $148,000 after buying an additional 272 shares during the period. Finally, Ameritas Investment Partners Inc. acquired a new stake in Watts Water Technologies during the first quarter valued at $150,000. Institutional investors and hedge funds own 77.97% of the company’s stock.
Watts Water Technologies Company Profile
Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.
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