Waters (NYSE:WAT) Issues FY24 Earnings Guidance

Waters (NYSE:WAT) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $11.55-$11.65 for the period, compared to the consensus EPS estimate of $11.78. Waters also updated its FY 2024 guidance to 11.550-11.650 EPS.

Waters Stock Up 0.7 %

Waters stock opened at $330.00 on Wednesday. The business’s 50-day simple moving average is $303.73 and its two-hundred day simple moving average is $321.18. The company has a debt-to-equity ratio of 1.60, a quick ratio of 1.30 and a current ratio of 1.94. The company has a market cap of $19.58 billion, a PE ratio of 32.16, a PEG ratio of 5.13 and a beta of 0.95. Waters has a fifty-two week low of $231.90 and a fifty-two week high of $367.21.

Waters (NYSE:WAT) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.11. Waters had a return on equity of 66.59% and a net margin of 20.75%. The firm had revenue of $636.80 million for the quarter, compared to analyst estimates of $635.57 million. During the same quarter in the prior year, the firm earned $2.49 earnings per share. Waters’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities analysts anticipate that Waters will post 11.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WAT. Jefferies Financial Group initiated coverage on Waters in a research note on Monday, June 3rd. They set a hold rating and a $320.00 price objective for the company. Evercore ISI dropped their target price on shares of Waters from $320.00 to $300.00 and set an in-line rating on the stock in a research report on Tuesday, July 2nd. TD Cowen boosted their price objective on Waters from $350.00 to $358.00 and gave the stock a hold rating in a research note on Wednesday, May 8th. Barclays reduced their target price on shares of Waters from $295.00 to $275.00 and set an underweight rating for the company in a research report on Friday, June 28th. Finally, Robert W. Baird lowered their price objective on Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $301.20.

Insiders Place Their Bets

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

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.