$588.06 Million in Sales Expected for Waters Co. (WAT) This Quarter

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Brokerages forecast that Waters Co. (NYSE:WAT) will announce $588.06 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Waters’ earnings. The highest sales estimate is $591.00 million and the lowest is $586.00 million. Waters reported sales of $565.58 million during the same quarter last year, which indicates a positive year over year growth rate of 4%. The firm is expected to announce its next earnings report before the market opens on Tuesday, October 23rd.

According to Zacks, analysts expect that Waters will report full year sales of $2.43 billion for the current financial year, with estimates ranging from $2.42 billion to $2.44 billion. For the next financial year, analysts forecast that the business will post sales of $2.55 billion, with estimates ranging from $2.52 billion to $2.58 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Waters.

Waters (NYSE:WAT) last issued its quarterly earnings results on Tuesday, July 24th. The medical instruments supplier reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.92 by $0.03. Waters had a return on equity of 27.85% and a net margin of 2.12%. The firm had revenue of $596.20 million for the quarter, compared to analyst estimates of $598.73 million. During the same period in the previous year, the company posted $1.76 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year.

WAT has been the topic of several research reports. Zacks Investment Research upgraded Waters from a “sell” rating to a “hold” rating in a research note on Thursday, August 23rd. Janney Montgomery Scott lowered Waters from a “buy” rating to a “neutral” rating and lowered their price target for the company from $230.00 to $211.00 in a research note on Tuesday, July 17th. Bank of America lowered Waters from a “neutral” rating to an “underperform” rating and set a $190.00 price target on the stock. in a research note on Monday, July 16th. Leerink Swann lowered Waters from an “outperform” rating to a “market perform” rating in a research note on Monday, October 8th. Finally, Morgan Stanley lowered their price target on Waters from $205.00 to $204.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 25th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. Waters presently has an average rating of “Hold” and an average price target of $208.73.

In other news, SVP Elizabeth B. Rae sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $190.62, for a total value of $762,480.00. Following the sale, the senior vice president now directly owns 9,443 shares in the company, valued at approximately $1,800,024.66. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.98% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in WAT. WP Advisors LLC bought a new stake in shares of Waters in the 2nd quarter valued at approximately $101,000. Summit Trail Advisors LLC grew its stake in shares of Waters by 68,148.5% in 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. Fort L.P. bought a new stake in shares of Waters in the 2nd quarter valued at approximately $118,000. Cornerstone Advisors Inc. grew its stake in shares of Waters by 1,651.2% in the 2nd quarter. Cornerstone Advisors Inc. now owns 753 shares of the medical instruments supplier’s stock valued at $146,000 after purchasing an additional 710 shares during the period. Finally, First Hawaiian Bank bought a new stake in shares of Waters in the 3rd quarter valued at approximately $208,000. Institutional investors own 99.31% of the company’s stock.

Shares of WAT opened at $187.72 on Friday. Waters has a 12-month low of $177.25 and a 12-month high of $220.20. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.95 and a current ratio of 6.58. The stock has a market cap of $15.00 billion, a P/E ratio of 25.14, a PEG ratio of 2.39 and a beta of 0.93.

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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