Equities Analysts Issue Forecasts for Watts Water Technologies, Inc.’s FY2017 Earnings (WTS)
Watts Water Technologies, Inc. (NYSE:WTS) – Equities researchers at Oppenheimer Holdings boosted their FY2017 EPS estimates for shares of Watts Water Technologies in a note issued to investors on Thursday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the technology company will post earnings of $3.00 per share for the year, up from their previous estimate of $2.95. Oppenheimer Holdings currently has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Watts Water Technologies’ FY2018 earnings at $3.30 EPS.
Several other equities analysts have also recently commented on the stock. BidaskClub cut shares of Watts Water Technologies from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 13th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Watts Water Technologies currently has an average rating of “Hold” and an average price target of $64.50.
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Shares of Watts Water Technologies (NYSE WTS) opened at 65.90 on Monday. Watts Water Technologies has a 52 week low of $58.35 and a 52 week high of $71.05. The company has a market capitalization of $2.27 billion, a PE ratio of 25.74 and a beta of 1.07. The firm’s 50-day moving average is $63.36 and its 200 day moving average is $63.03.
Watts Water Technologies (NYSE:WTS) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.79 by $0.04. The business had revenue of $378.50 million for the quarter, compared to analysts’ expectations of $379.51 million. Watts Water Technologies had a net margin of 6.27% and a return on equity of 12.84%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a $0.19 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.76 annualized dividend and a dividend yield of 1.15%. Watts Water Technologies’s payout ratio is 29.69%.
In related news, insider Elie Melhem sold 1,281 shares of the stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $64.42, for a total transaction of $82,522.02. Following the completion of the transaction, the insider now owns 29,493 shares in the company, valued at $1,899,939.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently modified their holdings of WTS. AQR Capital Management LLC increased its stake in shares of Watts Water Technologies by 0.3% in the fourth quarter. AQR Capital Management LLC now owns 7,500 shares of the technology company’s stock worth $489,000 after buying an additional 19 shares during the last quarter. State of Alaska Department of Revenue increased its stake in shares of Watts Water Technologies by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 3,070 shares of the technology company’s stock worth $191,000 after buying an additional 50 shares in the last quarter. Eqis Capital Management Inc. increased its stake in shares of Watts Water Technologies by 1.1% in the second quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock worth $375,000 after buying an additional 64 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Watts Water Technologies by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the technology company’s stock worth $705,000 after buying an additional 100 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Watts Water Technologies by 0.7% in the first quarter. Arizona State Retirement System now owns 14,446 shares of the technology company’s stock worth $901,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors 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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