Waters (NYSE:WAT) Releases FY24 Earnings Guidance

Waters (NYSE:WAT) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $11.55-$11.65 for the period, compared to the consensus estimate of $11.78. Waters also updated its FY 2024 guidance to 11.550-11.650 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Waters from $330.00 to $310.00 and set a hold rating on the stock in a report on Thursday. Stifel Nicolaus lifted their price target on shares of Waters from $330.00 to $332.00 and gave the stock a hold rating in a report on Wednesday, May 8th. Leerink Partnrs raised shares of Waters from a hold rating to a strong-buy rating in a report on Thursday. Jefferies Financial Group initiated coverage on shares of Waters in a report on Monday, June 3rd. They set a hold rating and a $320.00 target price on the stock. Finally, Barclays increased their target price on Waters from $275.00 to $300.00 and gave the stock an underweight rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $310.58.

Waters Price Performance

Shares of WAT stock traded down $6.87 on Friday, reaching $345.66. The company’s stock had a trading volume of 696,557 shares, compared to its average volume of 446,807. The company has a quick ratio of 1.30, a current ratio of 2.10 and a debt-to-equity ratio of 1.42. Waters has a 12-month low of $231.90 and a 12-month high of $367.21. The company has a market capitalization of $20.52 billion, a P/E ratio of 33.92, a PEG ratio of 5.73 and a beta of 0.95. The stock’s 50 day simple moving average is $303.98 and its 200-day simple moving average is $321.77.

Waters (NYSE:WAT) last issued its quarterly earnings data on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. The company had revenue of $709.00 million for the quarter, compared to the consensus estimate of $700.09 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. The firm’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.80 earnings per share. As a group, equities analysts predict that Waters will post 11.62 earnings per share for the current fiscal year.

Insider Activity at Waters

In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Christopher A. Kuebler sold 4,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $361.64, for a total value of $1,446,560.00. Following the transaction, the director now owns 14,716 shares of the company’s stock, valued at $5,321,894.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard H. Fearon bought 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The stock was purchased at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the purchase, the director now owns 1,653 shares of the company’s stock, valued at $550,283.70. The disclosure for this purchase can be found here. 0.82% of the stock is owned by insiders.

About Waters

Waters Corporation provides analytical workflow solutions in Asia, the Americas, and Europe. It operates through two segments: Waters and TA. The company designs, manufactures, sells, and services high and ultra-performance liquid chromatography, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.