Watts Water Technologies (NYSE:WTS – Get Free Report) announced its quarterly earnings results on Wednesday. The technology company reported $2.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.33 by $0.13, Briefing.com reports. Watts Water Technologies had a net margin of 12.53% and a return on equity of 19.61%. The firm had revenue of $597.30 million for the quarter, compared to the consensus estimate of $589.55 million. During the same quarter last year, the firm posted $2.34 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year. Watts Water Technologies updated its FY 2024 guidance to EPS.
Watts Water Technologies Price Performance
Shares of NYSE WTS opened at $182.51 on Friday. The firm has a 50-day simple moving average of $190.24 and a 200-day simple moving average of $199.87. The company has a quick ratio of 1.44, a current ratio of 2.48 and a debt-to-equity ratio of 0.18. Watts Water Technologies has a 52 week low of $167.87 and a 52 week high of $219.52. The stock has a market capitalization 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 disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, August 30th. Watts Water Technologies’s payout ratio is currently 21.34%.
Insiders Place Their Bets
Analysts Set New Price Targets
A number of research firms recently issued reports on WTS. StockNews.com cut shares of Watts Water Technologies from a “buy” rating to a “hold” rating in a research note on Thursday. Robert W. Baird cut their price objective on Watts Water Technologies from $225.00 to $199.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Stifel Nicolaus reduced their price objective on Watts Water Technologies from $217.00 to $202.00 and set a “hold” rating for the company in a research report on Friday.
Read Our Latest Research 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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