Q1 2020 EPS Estimates for Watts Water Technologies Inc (NYSE:WTS) Reduced by Analyst

Watts Water Technologies Inc (NYSE:WTS) – Seaport Global Securities reduced their Q1 2020 EPS estimates for shares of Watts Water Technologies in a research report issued to clients and investors on Tuesday, February 11th. Seaport Global Securities analyst W. Liptak now anticipates that the technology company will post earnings per share of $0.91 for the quarter, down from their previous estimate of $0.98. Seaport Global Securities currently has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for Watts Water Technologies’ Q3 2020 earnings at $1.09 EPS and FY2020 earnings at $4.20 EPS.

Several other research firms have also weighed in on WTS. Zacks Investment Research lowered Watts Water Technologies from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a research report on Friday, January 3rd. Boenning Scattergood raised Watts Water Technologies from a “neutral” rating to an “outperform” rating and set a $120.00 price target on the stock in a research report on Tuesday. 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 company’s stock. Watts Water Technologies presently has an average rating of “Hold” and an average target price of $106.32.

NYSE:WTS opened at $107.00 on Thursday. The firm has a market capitalization of $3.63 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 2.95 and a beta of 1.15. Watts Water Technologies has a 1-year low of $76.15 and a 1-year high of $114.45. 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 business’s fifty day moving average price is $100.96 and its 200 day moving average price is $95.88.

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

A number of hedge funds have recently modified their holdings of the business. AQR Capital Management LLC raised its holdings in shares of Watts Water Technologies by 23.2% in the 4th quarter. AQR Capital Management LLC now owns 9,959 shares of the technology company’s stock worth $994,000 after buying an additional 1,876 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Watts Water Technologies by 121.2% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 6,103 shares of the technology company’s stock worth $609,000 after buying an additional 3,344 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Watts Water Technologies by 7.9% in the 4th quarter. UBS Asset Management Americas Inc. now owns 30,844 shares of the technology company’s stock worth $3,077,000 after buying an additional 2,267 shares in the last quarter. Amalgamated Bank raised its holdings in shares of Watts Water Technologies by 6.6% in the 4th quarter. Amalgamated Bank now owns 5,061 shares of the technology company’s stock worth $505,000 after buying an additional 314 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Watts Water Technologies by 630.0% in the 4th quarter. Stifel Financial Corp now owns 94,355 shares of the technology company’s stock worth $9,376,000 after buying an additional 81,430 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors.

In other Watts Water Technologies news, insider Elie Melhem sold 2,139 shares of the company’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $95.82, for a total value of $204,958.98. Corporate insiders own 0.75% of the company’s stock.

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

About Watts Water Technologies

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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