KeyCorp Brokers Cut Earnings Estimates for Waters Co. (NYSE:WAT)

Waters Co. (NYSE:WATGet Rating) – KeyCorp dropped their Q3 2022 earnings per share (EPS) estimates for Waters in a research report issued to clients and investors on Tuesday, August 2nd. KeyCorp analyst P. Knight now expects that the medical instruments supplier will earn $2.55 per share for the quarter, down from their previous forecast of $2.79. The consensus estimate for Waters’ current full-year earnings is $12.00 per share.

Waters (NYSE:WATGet Rating) last released its earnings results on Tuesday, August 2nd. The medical instruments supplier reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.12. Waters had a net margin of 24.21% and a return on equity of 203.31%. The firm had revenue of $714.30 million for the quarter, compared to the consensus estimate of $706.77 million. During the same period in the prior year, the firm earned $2.60 EPS. The company’s revenue was up 4.8% compared to the same quarter last year.

WAT has been the subject of a number of other research reports. Wells Fargo & Company raised Waters from an “underweight” rating to an “equal weight” rating and reduced their price objective for the company from $320.00 to $315.00 in a research report on Monday, April 25th. Cowen lifted their price target on Waters to $358.00 in a research report on Friday, May 20th. Bank of America upgraded shares of Waters from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $320.00 to $330.00 in a research note on Tuesday, May 17th. Robert W. Baird raised their price objective on shares of Waters from $340.00 to $348.00 in a research note on Wednesday. Finally, Barclays began coverage on shares of Waters in a research note on Tuesday, May 17th. They issued an “overweight” rating and a $375.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $350.14.

Waters Price Performance

WAT stock opened at $337.87 on Thursday. The company has a debt-to-equity ratio of 3.85, a quick ratio of 1.75 and a current ratio of 0.99. The firm has a 50 day moving average price of $334.92 and a 200-day moving average price of $323.29. Waters has a 52-week low of $288.32 and a 52-week high of $428.22. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 29.48, a PEG ratio of 4.10 and a beta of 0.81.

Institutional Trading of Waters

Several large investors have recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of Waters by 97.0% during the 4th quarter. SG Americas Securities LLC now owns 5,600 shares of the medical instruments supplier’s stock valued at $2,087,000 after purchasing an additional 2,757 shares during the period. Vestmark Advisory Solutions Inc. increased its holdings in Waters by 19.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 1,274 shares of the medical instruments supplier’s stock valued at $395,000 after buying an additional 207 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Waters by 36.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,772 shares of the medical instruments supplier’s stock worth $6,995,000 after acquiring an additional 5,003 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Waters by 0.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 20,997 shares of the medical instruments supplier’s stock worth $7,824,000 after acquiring an additional 64 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Waters by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 312,564 shares of the medical instruments supplier’s stock valued at $116,461,000 after acquiring an additional 8,692 shares during the period. Institutional investors own 90.65% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher A. Kuebler sold 4,000 shares of Waters stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $328.78, for a total value of $1,315,120.00. Following the completion of the sale, the director now directly owns 14,064 shares in the company, valued at $4,623,961.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.77% of the stock is owned by insiders.

About Waters

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Waters Corporation, a specialty measurement company, 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.

See Also

Earnings History and Estimates for Waters (NYSE:WAT)

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