FY2017 Earnings Forecast for Watts Water Technologies Inc Issued By Oppenheimer Holdings (WTS)

Watts Water Technologies Inc (NYSE:WTS) – Oppenheimer Holdings upped their FY2017 earnings per share estimates for shares of Watts Water Technologies in a report issued on Sunday. Oppenheimer Holdings analyst J. Giannakouros now anticipates that the technology company will earn $3.00 per share for the year, up from their prior forecast of $2.95. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Watts Water Technologies’ FY2018 earnings at $3.30 EPS.

Watts Water Technologies (NYSE:WTS) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.05. Watts Water Technologies had a return on equity of 12.51% and a net margin of 6.02%. The firm had revenue of $347.20 million for the quarter, compared to analyst estimates of $343.79 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: “FY2017 Earnings Forecast for Watts Water Technologies Inc Issued By Oppenheimer Holdings (WTS)” was first posted by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.chaffeybreeze.com/2017/05/20/fy2017-earnings-forecast-for-watts-water-technologies-inc-issued-by-oppenheimer-holdings-wts-updated.html.

Earnings History and Estimates for Watts Water Technologies (NYSE:WTS)

A number of other analysts have also commented on WTS. Zacks Investment Research lowered Watts Water Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. TheStreet lowered Watts Water Technologies from a “b” rating to a “c” rating in a report on Tuesday, January 17th. Finally, Goldman Sachs Group Inc initiated coverage on Watts Water Technologies in a report on Wednesday, March 8th. They issued a “neutral” rating and a $66.00 target price for the company. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.25.

Shares of Watts Water Technologies (NYSE:WTS) opened at 63.40 on Wednesday. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 24.38 and a beta of 1.15. Watts Water Technologies has a 52 week low of $54.22 and a 52 week high of $71.05. The stock’s 50 day moving average price is $61.48 and its 200-day moving average price is $64.14.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, June 2nd will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.20%. This is a positive change from Watts Water Technologies’s previous quarterly dividend of $0.18. Watts Water Technologies’s payout ratio is presently 29.51%.

In related news, insider Elie Melhem sold 1,000 shares of Watts Water Technologies stock in a transaction on Monday, March 13th. The stock was sold at an average price of $61.75, for a total value of $61,750.00. Following the completion of the sale, the insider now owns 30,039 shares of the company’s stock, valued at $1,854,908.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Kenneth Robert Lepage sold 10,147 shares of Watts Water Technologies stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $65.00, for a total value of $659,555.00. Following the completion of the sale, the general counsel now directly owns 39,102 shares of the company’s stock, valued at approximately $2,541,630. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Several hedge funds have recently modified their holdings of WTS. Welch & Forbes LLC raised its stake in shares of Watts Water Technologies by 70.2% in the third quarter. Welch & Forbes LLC now owns 21,758 shares of the technology company’s stock valued at $1,411,000 after buying an additional 8,975 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Watts Water Technologies by 66.8% in the third quarter. JPMorgan Chase & Co. now owns 46,308 shares of the technology company’s stock valued at $3,002,000 after buying an additional 18,548 shares during the last quarter. State of Wisconsin Investment Board raised its stake in shares of Watts Water Technologies by 7.5% in the third quarter. State of Wisconsin Investment Board now owns 185,220 shares of the technology company’s stock valued at $12,010,000 after buying an additional 12,867 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Watts Water Technologies during the fourth quarter valued at approximately $1,454,000. Finally, BlackRock Inc. raised its stake in shares of Watts Water Technologies by 40.2% in the third quarter. BlackRock Inc. now owns 21,148 shares of the technology company’s stock valued at $1,371,000 after buying an additional 6,062 shares during the last quarter. 81.74% of the stock is owned by institutional investors.

About Watts Water Technologies

Watts Water Technologies, Inc is a supplier of products and solutions that manage and conserve the flow of fluids and energy into, through and out of buildings in the residential and commercial markets. The Company, through its subsidiary, Watts Regulator Co, is engaged in manufacturing products and systems focused on the control, conservation and quality of water, and safety of the people using it.

5 Day Chart for NYSE:WTS

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