Waters (NYSE:WAT) Releases FY24 Earnings Guidance

Waters (NYSE:WAT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.75-12.05 for the period, compared to the consensus estimate of $11.88. The company issued revenue guidance of +0-2% yr/yr to ~$2.96-3.02 billion, compared to the consensus revenue estimate of $2.98 billion. Waters also updated its Q2 guidance to $2.50-2.60 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on WAT shares. TD Cowen increased their price objective on Waters from $350.00 to $358.00 and gave the company a hold rating in a report on Wednesday. Evercore ISI boosted their price objective on shares of Waters from $320.00 to $340.00 and gave the stock an in-line rating in a research note on Thursday, April 4th. Robert W. Baird reduced their price target on Waters from $319.00 to $312.00 and set a neutral rating for the company in a report on Wednesday. Stifel Nicolaus lifted their target price on Waters from $330.00 to $332.00 and gave the stock a hold rating in a research note on Wednesday. Finally, Barclays cut their price target on Waters from $300.00 to $295.00 and set an underweight rating for the company in a report on Wednesday. One investment analyst has rated the stock with a sell rating and ten have issued a hold rating to the company’s stock. According to data from MarketBeat, Waters currently has an average rating of Hold and an average target price of $306.70.

Waters Trading Down 0.7 %

Shares of NYSE:WAT traded down $2.26 during midday trading on Wednesday, reaching $323.80. The company’s stock had a trading volume of 398,469 shares, compared to its average volume of 417,886. The firm has a 50 day moving average price of $333.23 and a two-hundred day moving average price of $310.76. Waters has a fifty-two week low of $231.90 and a fifty-two week high of $363.80. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 30.01, a PEG ratio of 6.39 and a beta of 0.98. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.57 and a current ratio of 2.22.

Waters (NYSE:WAT) last posted its quarterly earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.11. Waters had a net margin of 21.72% and a return on equity of 81.30%. The business had revenue of $636.80 million during the quarter, compared to analysts’ expectations of $635.57 million. During the same period last year, the company posted $2.49 earnings per share. The business’s quarterly revenue was down 7.0% on a year-over-year basis. As a group, analysts forecast that Waters will post 11.89 earnings per share for the current year.

Insider Buying and Selling

In other Waters news, Director Linda Baddour sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total transaction of $177,770.00. Following the completion of the sale, the director now directly owns 2,250 shares of the company’s stock, valued at approximately $799,965. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.82% of the stock is owned by company insiders.

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.