Waters (NYSE:WAT) Issues Q4 Earnings Guidance

Waters (NYSE:WAT) issued an update on its fourth quarter earnings guidance on Friday morning. The company provided earnings per share guidance of $3.90-4.10 for the period, compared to the consensus earnings per share estimate of $4.09. The company issued revenue guidance of +3.3-5.3% yr/yr to ~$846.5-862.9, compared to the consensus revenue estimate of $854.35 million. Waters also updated its FY 2024 guidance to 11.670-11.870 EPS.

Waters Stock Down 1.3 %

NYSE:WAT traded down $4.95 on Monday, reaching $382.26. 363,136 shares of the stock traded hands, compared to its average volume of 428,831. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. Waters has a 12 month low of $241.95 and a 12 month high of $391.00. The company has a market capitalization of $22.69 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 6.35 and a beta of 0.97. The company’s fifty day simple moving average is $342.04 and its 200 day simple moving average is $325.28.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.25. Waters had a net margin of 20.71% and a return on equity of 56.81%. The company had revenue of $740.30 million during the quarter, compared to analyst estimates of $712.99 million. During the same period in the previous year, the business posted $2.84 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities analysts predict that Waters will post 11.6 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Leerink Partnrs raised shares of Waters from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a report on Wednesday, July 31st. Stifel Nicolaus boosted their price target on Waters from $332.00 to $360.00 and gave the company a “hold” rating in a research note on Monday. Finally, Cfra set a $389.00 price target on Waters in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Waters has an average rating of “Hold” and a consensus target price of $361.17.

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.