Analysts expect Waters Co. (NYSE:WAT) to post sales of $598.04 million for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Waters’ earnings. The lowest sales estimate is $590.00 million and the highest is $600.35 million. Waters posted sales of $558.25 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.1%. The firm is expected to issue its next quarterly earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Waters will report full year sales of $2.47 billion for the current year, with estimates ranging from $2.45 billion to $2.49 billion. For the next financial year, analysts expect that the company will post sales of $2.60 billion per share, with estimates ranging from $2.58 billion to $2.62 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Waters.
Waters (NYSE:WAT) last announced its quarterly earnings data on Tuesday, April 24th. The medical instruments supplier reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.04. Waters had a net margin of 1.14% and a return on equity of 25.80%. The firm had revenue of $530.70 million during the quarter, compared to analyst estimates of $534.17 million. During the same quarter in the prior year, the firm posted $1.46 earnings per share. Waters’s quarterly revenue was up 6.6% on a year-over-year basis.
A number of research firms recently weighed in on WAT. Cleveland Research lowered shares of Waters from a “neutral” rating to an “underperform” rating in a research report on Thursday, June 14th. ValuEngine lowered Waters from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Zacks Investment Research lowered Waters from a “buy” rating to a “hold” rating in a report on Thursday, April 26th. TheStreet upgraded Waters from a “c+” rating to a “b” rating in a report on Tuesday, April 24th. Finally, Barclays reduced their target price on Waters from $208.00 to $200.00 and set an “equal weight” rating for the company in a report on Wednesday, April 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Waters has a consensus rating of “Hold” and a consensus target price of $207.31.
Waters traded up $0.88, reaching $193.87, during midday trading on Thursday, MarketBeat reports. The stock had a trading volume of 567,963 shares, compared to its average volume of 676,068. Waters has a 12-month low of $171.32 and a 12-month high of $220.20. The company has a debt-to-equity ratio of 0.59, a current ratio of 6.44 and a quick ratio of 5.87. The firm has a market cap of $15.12 billion, a price-to-earnings ratio of 25.88, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94.
Waters declared that its Board of Directors has approved a share buyback plan on Tuesday, April 24th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the medical instruments supplier to buy up to 18.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
In other Waters news, Director Joann A. Reed sold 2,090 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The stock was sold at an average price of $195.77, for a total value of $409,159.30. Following the transaction, the director now directly owns 17,932 shares of the company’s stock, valued at approximately $3,510,547.64. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Michael C. Harrington sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, June 1st. The shares were sold at an average price of $194.64, for a total value of $2,919,600.00. Following the completion of the transaction, the senior vice president now directly owns 17,037 shares in the company, valued at $3,316,081.68. The disclosure for this sale can be found here. Insiders sold a total of 36,689 shares of company stock worth $7,130,365 in the last ninety days. Insiders own 0.98% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in WAT. Dynamic Technology Lab Private Ltd raised its position in shares of Waters by 128.0% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 13,566 shares of the medical instruments supplier’s stock valued at $2,696,000 after acquiring an additional 7,616 shares in the last quarter. Chesapeake Wealth Management purchased a new position in Waters during the 1st quarter valued at about $271,000. Suntrust Banks Inc. increased its position in Waters by 31.9% during the 1st quarter. Suntrust Banks Inc. now owns 2,762 shares of the medical instruments supplier’s stock valued at $547,000 after purchasing an additional 668 shares during the period. Amalgamated Bank increased its position in Waters by 10.7% during the 1st quarter. Amalgamated Bank now owns 11,195 shares of the medical instruments supplier’s stock valued at $2,224,000 after purchasing an additional 1,082 shares during the period. Finally, Summit Trail Advisors LLC increased its position in Waters by 68,148.5% during the 1st quarter. Summit Trail Advisors LLC now owns 113,975 shares of the medical instruments supplier’s stock valued at $114,000 after purchasing an additional 113,808 shares during the period. 92.14% of the stock is currently owned by institutional investors.
Waters Company Profile
Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.
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