Watts Water Technologies (NYSE:WTS – Get Free Report) posted its earnings results on Wednesday. The technology company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.34 by $0.12, Briefing.com reports. The company had revenue of $597.30 million during the quarter, compared to analysts’ expectations of $589.55 million. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. Watts Water Technologies’s quarterly revenue was up 12.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.34 earnings per share. Watts Water Technologies updated its FY 2024 guidance to EPS.
Watts Water Technologies Trading Down 1.5 %
Watts Water Technologies stock traded down $2.76 during midday trading on Friday, reaching $182.51. The stock had a trading volume of 247,511 shares, compared to its average volume of 147,014. The company has a quick ratio of 1.44, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. The company has a fifty day moving average of $190.24 and a 200 day moving average of $199.87. Watts Water Technologies has a 52-week low of $167.87 and a 52-week high of $219.52. The firm has a market cap of $6.09 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 2.82 and a beta of 0.90.
Watts Water Technologies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.72 annualized dividend and a dividend yield of 0.94%. Watts Water Technologies’s dividend payout ratio (DPR) is 21.34%.
Insider Transactions at Watts Water Technologies
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Robert W. Baird cut their price target on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday. StockNews.com cut Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Stifel Nicolaus decreased their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a report on Friday.
Check Out Our Latest Stock Report on Watts Water Technologies
About Watts Water Technologies
Watts Water Technologies, Inc, together with its subsidiaries, supplies products and solutions that manage and conserve the flow of fluids and energy into, through, and out of buildings in the commercial, industrial, and residential markets in the Americas, Europe, the Asia-Pacific, the Middle East, and Africa.
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