Analysts Expect Watts Water Technologies (WTS) Will Post Quarterly Sales of $362.55 Million

Wall Street analysts expect Watts Water Technologies (NYSE:WTS) to report $362.55 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Watts Water Technologies’ earnings. The lowest sales estimate is $352.00 million and the highest is $374.40 million. Watts Water Technologies reported sales of $347.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 4.4%. The firm is expected to issue its next earnings results after the market closes on Thursday, May 3rd.

According to Zacks, analysts expect that Watts Water Technologies will report full year sales of $1.53 billion for the current year, with estimates ranging from $1.51 billion to $1.55 billion. For the next financial year, analysts anticipate that the company will report sales of $1.58 billion per share, with estimates ranging from $1.55 billion to $1.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Watts Water Technologies.

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Watts Water Technologies (NYSE:WTS) last released its quarterly earnings results on Monday, February 12th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The firm had revenue of $366.30 million during the quarter, compared to the consensus estimate of $365.35 million. Watts Water Technologies had a net margin of 5.02% and a return on equity of 12.93%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 earnings per share.



WTS has been the subject of several analyst reports. Zacks Investment Research raised shares of Watts Water Technologies from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Monday, January 22nd. Northcoast Research set a $90.00 price target on shares of Watts Water Technologies and gave the company a “buy” rating in a research note on Friday, January 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $95.00 price target (up previously from $85.00) on shares of Watts Water Technologies in a research note on Tuesday, January 16th. Janney Montgomery Scott raised shares of Watts Water Technologies from a “neutral” rating to a “buy” rating in a research note on Wednesday, February 14th. Finally, TheStreet downgraded shares of Watts Water Technologies from a “b+” rating to a “c+” rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Watts Water Technologies has a consensus rating of “Hold” and an average price target of $80.40.

In other news, insider Munish Nanda sold 6,953 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $75.66, for a total transaction of $526,063.98. Following the completion of the sale, the insider now directly owns 31,560 shares in the company, valued at $2,387,829.60. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert J. Pagano, Jr. sold 16,248 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $76.89, for a total transaction of $1,249,308.72. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,344 shares of company stock valued at $3,239,332. 1.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of WTS. Legal & General Group Plc increased its position in shares of Watts Water Technologies by 3.7% during the third quarter. Legal & General Group Plc now owns 56,460 shares of the technology company’s stock worth $3,910,000 after buying an additional 2,024 shares during the period. Wells Fargo & Company MN increased its position in shares of Watts Water Technologies by 37.5% during the third quarter. Wells Fargo & Company MN now owns 41,400 shares of the technology company’s stock worth $2,864,000 after buying an additional 11,289 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Watts Water Technologies by 4.3% during the third quarter. Schwab Charles Investment Management Inc. now owns 185,077 shares of the technology company’s stock worth $12,808,000 after buying an additional 7,582 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Watts Water Technologies by 4.0% during the third quarter. Dimensional Fund Advisors LP now owns 992,272 shares of the technology company’s stock worth $68,667,000 after buying an additional 38,374 shares during the period. Finally, California Public Employees Retirement System increased its position in shares of Watts Water Technologies by 5.7% during the third quarter. California Public Employees Retirement System now owns 77,160 shares of the technology company’s stock worth $5,339,000 after buying an additional 4,160 shares during the period. Institutional investors own 77.22% of the company’s stock.

WTS stock opened at $78.35 on Tuesday. The firm has a market cap of $2,618.20, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.77 and a beta of 1.10. Watts Water Technologies has a 52-week low of $59.15 and a 52-week high of $84.25. The company has a quick ratio of 1.60, a current ratio of 2.39 and a debt-to-equity ratio of 0.57.

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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. 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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Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

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