Waters (NYSE:WAT) Announces Quarterly Earnings Results

Waters (NYSE:WAT) posted its quarterly earnings data on Friday. The medical instruments supplier reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25, Briefing.com reports. The company had revenue of $740.30 million for the quarter, compared to analyst estimates of $712.99 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.84 EPS.

Waters Trading Up 19.8 %

WAT stock traded up $64.10 during midday trading on Friday, hitting $387.21. 1,905,943 shares of the company’s stock were exchanged, compared to its average volume of 376,298. The stock has a market capitalization of $22.98 billion, a PE ratio of 38.57, a P/E/G ratio of 6.35 and a beta of 0.97. Waters has a 1-year low of $241.40 and a 1-year high of $389.35. The business has a 50-day simple moving average of $342.04 and a two-hundred day simple moving average of $325.20. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42.

Analyst Upgrades and Downgrades

WAT has been the topic of a number of recent analyst reports. The Goldman Sachs Group raised Waters to a “hold” rating in a research report on Wednesday, July 31st. Evercore ISI increased their price target on Waters from $335.00 to $355.00 and gave the company an “in-line” rating in a research note on Tuesday, October 1st. Cfra set a $389.00 price target on Waters in a research note on Thursday, October 17th. Wells Fargo & Company began coverage on shares of Waters in a research note on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price for the company. Finally, TD Cowen raised their price target on shares of Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Waters currently has an average rating of “Hold” and a consensus price target of $342.58.

About Waters

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.