Zacks: Brokerages Expect Waters Co. (WAT) Will Post Quarterly Sales of $545.48 Million

Wall Street analysts expect Waters Co. (NYSE:WAT) to report sales of $545.48 million for the current quarter, Zacks reports. Six analysts have made estimates for Waters’ earnings. The lowest sales estimate is $543.94 million and the highest is $548.32 million. Waters posted sales of $530.67 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.8%. The firm is expected to issue its next quarterly earnings results on Tuesday, April 23rd.

According to Zacks, analysts expect that Waters will report full-year sales of $2.51 billion for the current fiscal year, with estimates ranging from $2.49 billion to $2.54 billion. For the next year, analysts expect that the business will report sales of $2.63 billion, with estimates ranging from $2.60 billion to $2.68 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Waters.

Waters (NYSE:WAT) last released its quarterly earnings results on Wednesday, January 23rd. The medical instruments supplier reported $2.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.64 by $0.23. The company had revenue of $715.00 million during the quarter, compared to analyst estimates of $702.74 million. Waters had a return on equity of 34.18% and a net margin of 24.54%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $2.51 earnings per share.

Several research firms recently commented on WAT. Zacks Investment Research upgraded Waters from a “hold” rating to a “buy” rating and set a $203.00 price target for the company in a research report on Monday, December 31st. TheStreet lowered Waters from a “b” rating to a “c+” rating in a research report on Thursday, December 20th. BTIG Research boosted their target price on Waters to $260.00 and gave the company a “buy” rating in a research report on Thursday, January 24th. JPMorgan Chase & Co. lowered Waters from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $185.00 to $180.00 in a research report on Wednesday, December 12th. Finally, Robert W. Baird lowered Waters from an “outperform” rating to a “neutral” rating and boosted their target price for the company from $191.00 to $211.00 in a research report on Thursday, January 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $208.99.

In other news, Director Michael J. Berendt sold 3,500 shares of Waters stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $184.74, for a total transaction of $646,590.00. Following the completion of the sale, the director now owns 27,411 shares of the company’s stock, valued at $5,063,908.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Elizabeth B. Rae sold 10,800 shares of Waters stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $232.35, for a total transaction of $2,509,380.00. Following the sale, the senior vice president now directly owns 8,794 shares of the company’s stock, valued at approximately $2,043,285.90. The disclosure for this sale can be found here. Insiders have sold 122,961 shares of company stock valued at $27,285,652 in the last 90 days. Company insiders own 0.98% of the company’s stock.

Several institutional investors have recently bought and sold shares of WAT. Bank of New York Mellon Corp raised its stake in shares of Waters by 156.1% during the second quarter. Bank of New York Mellon Corp now owns 4,358,976 shares of the medical instruments supplier’s stock valued at $843,852,000 after acquiring an additional 2,657,055 shares in the last quarter. First Hawaiian Bank bought a new stake in shares of Waters during the third quarter valued at approximately $208,000. IFM Investors Pty Ltd raised its stake in shares of Waters by 12.9% during the third quarter. IFM Investors Pty Ltd now owns 4,119 shares of the medical instruments supplier’s stock valued at $802,000 after acquiring an additional 471 shares in the last quarter. BTIM Corp. raised its stake in shares of Waters by 8.7% during the third quarter. BTIM Corp. now owns 281,743 shares of the medical instruments supplier’s stock valued at $54,850,000 after acquiring an additional 22,434 shares in the last quarter. Finally, Ledyard National Bank raised its stake in shares of Waters by 38.3% during the third quarter. Ledyard National Bank now owns 1,660 shares of the medical instruments supplier’s stock valued at $323,000 after acquiring an additional 460 shares in the last quarter. 89.08% of the stock is owned by hedge funds and other institutional investors.

WAT traded up $0.58 on Thursday, hitting $234.58. The company had a trading volume of 451,200 shares, compared to its average volume of 681,340. The firm has a market cap of $17.73 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.32 and a beta of 1.17. Waters has a 12-month low of $167.93 and a 12-month high of $235.85. The company has a current ratio of 2.26, a quick ratio of 2.01 and a debt-to-equity ratio of 0.61.

About Waters

Waters Corporation, a specialty measurement company, provides analytical workflow solutions in the United States, Europe, Asia, and internationally. It designs, manufactures, sells, and services high and ultra performance liquid chromatography technology, as well as mass spectrometry (MS) technology systems and support products, including chromatography columns, other consumable products, and post-warranty service plans.

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