Watts Water Technologies, Inc. (WTS) to Post Q1 2018 Earnings of $0.74 Per Share, Northcoast Research Forecasts
Watts Water Technologies, Inc. (NYSE:WTS) – Analysts at Northcoast Research lifted their Q1 2018 earnings per share (EPS) estimates for shares of Watts Water Technologies in a research report issued to clients and investors on Monday. Northcoast Research analyst A. Cohen now anticipates that the technology company will post earnings of $0.74 per share for the quarter, up from their prior forecast of $0.72. Northcoast Research currently has a “Buy” rating and a $79.00 target price on the stock. Northcoast Research also issued estimates for Watts Water Technologies’ Q2 2018 earnings at $0.88 EPS and FY2018 earnings at $3.29 EPS.
WTS has been the subject of a number of other reports. Boenning Scattergood reiterated an “outperform” rating on shares of Watts Water Technologies in a research report on Tuesday, September 5th. BidaskClub downgraded Watts Water Technologies from a “sell” rating to a “strong sell” rating in a research report on Friday, August 25th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Watts Water Technologies in a research report on Wednesday, June 14th. Finally, Stifel Nicolaus began coverage on Watts Water Technologies in a report on Monday. They set a “buy” rating and a $72.00 price target for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $72.33.
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Watts Water Technologies (NYSE WTS) opened at 68.40 on Tuesday. Watts Water Technologies has a 1-year low of $58.35 and a 1-year high of $71.05. The firm’s 50-day moving average price is $63.54 and its 200 day moving average price is $62.76. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 26.72 and a beta of 1.06.
Watts Water Technologies (NYSE:WTS) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping the 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 firm had revenue of $378.50 million during the quarter, compared to analyst estimates of $379.51 million. During the same period in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.11%. Watts Water Technologies’s dividend payout ratio (DPR) is currently 29.69%.
In other news, insider Elie Melhem sold 3,306 shares of the business’s stock in a transaction on Friday, August 25th. The stock was sold at an average price of $62.11, for a total transaction of $205,335.66. Following the completion of the transaction, the insider now owns 32,128 shares of the company’s stock, valued at approximately $1,995,470.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio increased its holdings in Watts Water Technologies by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,038 shares of the technology company’s stock worth $129,000 after purchasing an additional 17 shares in the last quarter. Suntrust Banks Inc. increased its holdings in Watts Water Technologies by 1.0% in the 2nd quarter. Suntrust Banks Inc. now owns 3,290 shares of the technology company’s stock worth $207,000 after purchasing an additional 31 shares in the last quarter. Manchester Capital Management LLC increased its holdings in Watts Water Technologies by 0.5% in the 2nd quarter. Manchester Capital Management LLC now owns 11,040 shares of the technology company’s stock worth $698,000 after purchasing an additional 50 shares in the last quarter. South State Corp increased its holdings in Watts Water Technologies by 1.5% in the 2nd quarter. South State Corp now owns 3,347 shares of the technology company’s stock worth $212,000 after purchasing an additional 50 shares in the last quarter. Finally, Eqis Capital Management Inc. increased its holdings in Watts Water Technologies by 1.1% in the 2nd quarter. Eqis Capital Management Inc. now owns 5,932 shares of the technology company’s stock worth $375,000 after purchasing an additional 64 shares in the last quarter. 77.64% of the stock is owned by institutional investors and hedge funds.
About Watts Water Technologies
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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