Waters (NYSE:WAT) Updates FY24 Earnings Guidance

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

Waters Stock Up 0.7 %

Shares of Waters stock opened at $330.00 on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.30 and a debt-to-equity ratio of 1.60. Waters has a 12-month low of $231.90 and a 12-month high of $367.21. The company has a market cap of $19.58 billion, a P/E ratio of 32.16, a PEG ratio of 5.13 and a beta of 0.95. The company’s fifty day simple moving average is $303.73 and its two-hundred day simple moving average is $321.18.

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. Research analysts anticipate that Waters will post 11.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on WAT. TD Cowen upped their price target on Waters from $350.00 to $358.00 and gave the stock a hold rating in a research note on Wednesday, May 8th. Robert W. Baird dropped their price objective on shares of Waters from $319.00 to $312.00 and set a neutral rating on the stock in a research note on Wednesday, May 8th. Barclays decreased their target price on shares of Waters from $295.00 to $275.00 and set an underweight rating for the company in a research note on Friday, June 28th. Evercore ISI cut their price target on Waters from $320.00 to $300.00 and set an in-line rating on the stock in a research note on Tuesday, July 2nd. Finally, Stifel Nicolaus lifted their price objective on Waters from $330.00 to $332.00 and gave the company a hold rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating and eleven have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $301.20.

Insider Activity

In related news, Director Richard H. Fearon bought 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, with a total value of $332,900.00. Following the transaction, the director now owns 1,653 shares in the company, valued at approximately $550,283.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard H. Fearon acquired 1,000 shares of Waters stock in a transaction that occurred on Tuesday, May 28th. The stock was bought at an average price of $332.90 per share, for a total transaction of $332,900.00. Following the completion of the transaction, the director now owns 1,653 shares in the company, valued at $550,283.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christopher A. Kuebler sold 4,000 shares of the business’s stock in a transaction dated 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 disclosure for this sale can be found here. 0.82% of the stock is owned by corporate 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.