Watts Water Technologies Inc to Post Q1 2020 Earnings of $0.96 Per Share, Oppenheimer Forecasts (NYSE:WTS)

Watts Water Technologies Inc (NYSE:WTS) – Analysts at Oppenheimer issued their Q1 2020 earnings per share (EPS) estimates for Watts Water Technologies in a report issued on Tuesday, February 11th. Oppenheimer analyst B. Blair expects that the technology company will post earnings of $0.96 per share for the quarter. Oppenheimer also issued estimates for Watts Water Technologies’ Q2 2020 earnings at $1.17 EPS, Q3 2020 earnings at $1.13 EPS, Q4 2020 earnings at $1.09 EPS and FY2021 earnings at $4.60 EPS.

Watts Water Technologies (NYSE:WTS) last issued its quarterly earnings data on Monday, February 10th. The technology company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.02. The company had revenue of $400.30 million for the quarter, compared to the consensus estimate of $396.98 million. Watts Water Technologies had a net margin of 8.22% and a return on equity of 15.00%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.88 earnings per share.

A number of other analysts have also recently commented on WTS. Zacks Investment Research cut shares of Watts Water Technologies from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a report on Friday, January 3rd. Boenning Scattergood raised shares of Watts Water Technologies from a “neutral” rating to an “outperform” rating and set a $120.00 target price for the company in a report on Tuesday. Finally, Seaport Global Securities cut shares of Watts Water Technologies from a “buy” rating to a “neutral” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Watts Water Technologies presently has a consensus rating of “Hold” and an average price target of $106.32.

Shares of WTS stock opened at $107.00 on Thursday. Watts Water Technologies has a 12 month low of $76.15 and a 12 month high of $114.45. The stock has a market cap of $3.63 billion, a P/E ratio of 27.86, a P/E/G ratio of 2.95 and a beta of 1.15. The company has a current ratio of 1.80, a quick ratio of 1.10 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of $100.96 and a two-hundred day simple moving average of $95.88.

Several hedge funds and other institutional investors have recently made changes to their positions in WTS. BlackRock Inc. increased its stake in shares of Watts Water Technologies by 6.4% in the second quarter. BlackRock Inc. now owns 4,721,235 shares of the technology company’s stock worth $439,926,000 after purchasing an additional 283,685 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Watts Water Technologies by 10.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,484,357 shares of the technology company’s stock worth $148,005,000 after purchasing an additional 140,039 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Watts Water Technologies by 39.9% in the fourth quarter. Renaissance Technologies LLC now owns 430,990 shares of the technology company’s stock worth $42,996,000 after purchasing an additional 122,890 shares in the last quarter. FIL Ltd increased its stake in shares of Watts Water Technologies by 66.2% in the fourth quarter. FIL Ltd now owns 292,606 shares of the technology company’s stock worth $29,190,000 after purchasing an additional 116,575 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Watts Water Technologies by 630.0% in the fourth quarter. Stifel Financial Corp now owns 94,355 shares of the technology company’s stock worth $9,376,000 after purchasing an additional 81,430 shares in the last quarter. 72.83% of the stock is owned by hedge funds and other institutional investors.

In other Watts Water Technologies news, insider Elie Melhem sold 2,139 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $95.82, for a total transaction of $204,958.98. 0.75% of the stock is currently owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Shareholders of record on Friday, February 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $0.92 dividend on an annualized basis and a yield of 0.86%. Watts Water Technologies’s dividend payout ratio is currently 22.60%.

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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