Oppenheimer Holdings Weighs in on Watts Water Technologies, Inc.’s Q3 2017 Earnings (WTS)

Watts Water Technologies, Inc. (NYSE:WTS) – Equities research analysts at Oppenheimer Holdings cut their Q3 2017 EPS estimates for shares of Watts Water Technologies in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst J. Giannakouros now forecasts that the technology company will post earnings per share of $0.79 for the quarter, down from their prior estimate of $0.81. Oppenheimer Holdings has a “Hold” rating on the stock. Oppenheimer Holdings also issued estimates for Watts Water Technologies’ Q4 2017 earnings at $0.73 EPS, FY2017 earnings at $2.95 EPS and FY2018 earnings at $3.25 EPS.

Watts Water Technologies (NYSE:WTS) last announced its earnings results on Thursday, May 4th. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.05. The company had revenue of $347.20 million during the quarter, compared to analyst estimates of $343.79 million. Watts Water Technologies had a net margin of 6.40% and a return on equity of 12.75%. Watts Water Technologies’s revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 earnings per share. ILLEGAL ACTIVITY NOTICE: “Oppenheimer Holdings Weighs in on Watts Water Technologies, Inc.’s Q3 2017 Earnings (WTS)” was published by Ticker Report and is the property of of Ticker Report. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/2654136/oppenheimer-holdings-weighs-in-on-watts-water-technologies-inc-s-q3-2017-earnings-wts.html.

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

WTS has been the subject of a number of other research reports. Zacks Investment Research raised shares of Watts Water Technologies from a “sell” rating to a “hold” rating in a research report on Thursday, April 13th. Goldman Sachs Group, Inc. (The) started coverage on shares of Watts Water Technologies in a research report on Wednesday, March 8th. They set a “neutral” rating and a $66.00 target price for the company. Finally, BidaskClub raised shares of Watts Water Technologies from a “strong sell” rating to a “sell” rating in a research report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. The company currently has an average rating of “Hold” and an average target price of $64.50.

Watts Water Technologies (NYSE:WTS) opened at 62.70 on Monday. Watts Water Technologies has a 52 week low of $54.37 and a 52 week high of $71.05. The firm’s 50-day moving average is $63.11 and its 200 day moving average is $63.77. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 24.12 and a beta of 1.05.

A number of hedge funds have recently bought and sold shares of WTS. Schroder Investment Management Group increased its stake in Watts Water Technologies by 71.0% in the first quarter. Schroder Investment Management Group now owns 47,829 shares of the technology company’s stock worth $2,985,000 after buying an additional 19,851 shares during the period. Russell Investments Group Ltd. acquired a new stake in Watts Water Technologies during the fourth quarter worth about $1,454,000. NJ State Employees Deferred Compensation Plan acquired a new stake in Watts Water Technologies during the first quarter worth about $374,000. Two Sigma Investments LP acquired a new stake in Watts Water Technologies during the fourth quarter worth about $2,409,000. Finally, State Street Corp increased its stake in Watts Water Technologies by 7.0% in the fourth quarter. State Street Corp now owns 600,012 shares of the technology company’s stock worth $39,120,000 after buying an additional 39,018 shares during the period. 78.19% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Elie Melhem sold 1,281 shares of the stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $64.42, for a total transaction of $82,522.02. Following the completion of the sale, the insider now owns 29,493 shares of the company’s stock, valued at approximately $1,899,939.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.10% of the stock is currently owned by corporate insiders.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Friday, June 2nd were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Wednesday, May 31st. This is an increase from Watts Water Technologies’s previous quarterly dividend of $0.18. Watts Water Technologies’s dividend payout ratio is 29.23%.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “WTS”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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