Waters (WAT) Set to Announce Quarterly Earnings on Wednesday

Waters (NYSE:WAT) is scheduled to post its quarterly earnings results before the market opens on Wednesday, July 31st. Analysts expect Waters to post earnings of $2.55 per share for the quarter. Waters has set its Q2 guidance at $2.50-2.60 EPS and its FY24 guidance at $11.75-12.05 EPS.Investors interested in participating in the company’s conference call can do so using this link.

Waters (NYSE:WAT) last announced its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.11. Waters had a net margin of 20.75% and a return on equity of 66.59%. The company had revenue of $636.80 million for the quarter, compared to analysts’ expectations of $635.57 million. During the same quarter in the previous year, the company earned $2.49 earnings per share. Waters’s quarterly revenue was down 7.0% on a year-over-year basis. On average, analysts expect Waters to post $12 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Waters Stock Performance

Shares of WAT opened at $321.58 on Tuesday. Waters has a one year low of $231.90 and a one year high of $367.21. The company has a 50-day simple moving average of $304.21 and a two-hundred day simple moving average of $321.05. The company has a debt-to-equity ratio of 1.60, a current ratio of 1.94 and a quick ratio of 1.30. The firm has a market capitalization of $19.08 billion, a PE ratio of 31.56, a price-to-earnings-growth ratio of 5.07 and a beta of 0.95.

Insider Activity

In other news, Director Richard H. Fearon acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average cost of $332.90 per share, for a total transaction of $332,900.00. Following the acquisition, the director now directly owns 1,653 shares in the company, valued at $550,283.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Waters news, Director Christopher A. Kuebler sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $361.64, for a total transaction of $1,446,560.00. Following the transaction, the director now owns 14,716 shares in the company, valued at approximately $5,321,894.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard H. Fearon purchased 1,000 shares of Waters stock in a transaction dated Tuesday, May 28th. The stock was bought at an average price of $332.90 per share, with a total value of $332,900.00. Following the completion of the purchase, the director now directly owns 1,653 shares of the company’s stock, valued at $550,283.70. The disclosure for this purchase can be found here. Corporate insiders own 0.82% of the company’s stock.

Wall Street Analyst Weigh In

WAT has been the topic of several research reports. TD Cowen lifted their price target on Waters from $350.00 to $358.00 and gave the company a “hold” rating in a research report on Wednesday, May 8th. Robert W. Baird dropped their target price on shares of Waters from $319.00 to $312.00 and set a “neutral” rating on the stock in a report on Wednesday, May 8th. Evercore ISI decreased their price target on shares of Waters from $320.00 to $300.00 and set an “in-line” rating for the company in a research note on Tuesday, July 2nd. Jefferies Financial Group assumed coverage on shares of Waters in a research note on Monday, June 3rd. They set a “hold” rating and a $320.00 price objective on the stock. Finally, Barclays cut their price objective on shares of Waters from $295.00 to $275.00 and set an “underweight” rating on the stock in a report on Friday, June 28th. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $301.20.

Waters Company Profile

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.