Analysts Expect Watts Water Technologies Inc (WTS) Will Announce Quarterly Sales of $417.48 Million

Equities analysts predict that Watts Water Technologies Inc (NYSE:WTS) will post sales of $417.48 million for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Watts Water Technologies’ earnings, with the highest sales estimate coming in at $422.20 million and the lowest estimate coming in at $412.50 million. Watts Water Technologies reported sales of $407.90 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.3%. The company is expected to report its next earnings results on Wednesday, August 7th.

According to Zacks, analysts expect that Watts Water Technologies will report full-year sales of $1.60 billion for the current year, with estimates ranging from $1.59 billion to $1.61 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.66 billion, with estimates ranging from $1.63 billion to $1.69 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Watts Water Technologies.

Watts Water Technologies (NYSE:WTS) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.93 by $0.01. Watts Water Technologies had a net margin of 8.10% and a return on equity of 14.93%. The firm had revenue of $388.70 million for the quarter, compared to the consensus estimate of $388.77 million. During the same period last year, the firm posted $0.82 earnings per share. The business’s revenue was up 2.7% compared to the same quarter last year.

A number of brokerages have weighed in on WTS. Stifel Nicolaus boosted their target price on Watts Water Technologies from $88.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Janney Montgomery Scott downgraded Watts Water Technologies from a “buy” rating to a “neutral” rating and upped their price target for the stock from $81.00 to $83.00 in a research note on Monday, February 11th. Zacks Investment Research downgraded Watts Water Technologies from a “hold” rating to a “sell” rating in a research note on Tuesday, April 30th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Watts Water Technologies in a report on Monday, February 11th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Watts Water Technologies has an average rating of “Hold” and an average target price of $89.50.

In other Watts Water Technologies news, major shareholder Timothy P. Horne sold 19,324 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.00, for a total transaction of $1,565,244.00. Following the sale, the insider now owns 29,700 shares in the company, valued at approximately $2,405,700. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Timothy P. Horne sold 976 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $81.00, for a total value of $79,056.00. Following the sale, the insider now owns 49,024 shares in the company, valued at approximately $3,970,944. The disclosure for this sale can be found here. Insiders have sold 59,996 shares of company stock worth $4,830,215 in the last three months. 0.75% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in WTS. FMR LLC grew its holdings in Watts Water Technologies by 70.0% during the 4th quarter. FMR LLC now owns 425 shares of the technology company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. We Are One Seven LLC acquired a new stake in Watts Water Technologies during the 4th quarter valued at $32,000. Strs Ohio acquired a new stake in shares of Watts Water Technologies during the first quarter worth $32,000. Quantamental Technologies LLC acquired a new stake in shares of Watts Water Technologies during the fourth quarter worth $52,000. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Watts Water Technologies by 2,908.7% during the first quarter. Quadrant Capital Group LLC now owns 692 shares of the technology company’s stock worth $54,000 after purchasing an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

Shares of WTS stock traded up $0.39 during mid-day trading on Tuesday, reaching $81.58. 118,886 shares of the company’s stock traded hands, compared to its average volume of 134,638. Watts Water Technologies has a 12 month low of $61.17 and a 12 month high of $93.35. The stock has a market cap of $2.77 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 2.06 and a beta of 1.22. The company has a current ratio of 2.27, a quick ratio of 1.35 and a debt-to-equity ratio of 0.38.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 31st will be paid a dividend of $0.23 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.92 dividend on an annualized basis and a yield of 1.13%. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.21. Watts Water Technologies’s payout ratio is 22.46%.

Watts Water Technologies Company Profile

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. The company 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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