Waters (NYSE:WAT) Updates Q4 Earnings Guidance

Waters (NYSE:WAT) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share guidance of $3.90-4.10 for the period, compared to the consensus earnings per share estimate of $4.09. The company issued revenue guidance of +3.3-5.3% yr/yr to ~$846.5-862.9, compared to the consensus revenue estimate of $854.35 million. Waters also updated its FY 2024 guidance to 11.670-11.870 EPS.

Waters Trading Down 1.2 %

Shares of WAT stock opened at $322.57 on Friday. Waters has a fifty-two week low of $234.04 and a fifty-two week high of $367.21. The firm has a market capitalization of $19.15 billion, a P/E ratio of 32.13, a PEG ratio of 6.42 and a beta of 0.95. The stock’s fifty day moving average is $341.42 and its two-hundred day moving average is $324.75. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.42 and a current ratio of 2.10.

Waters (NYSE:WAT) last posted its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.08. The company had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.80 earnings per share. Research analysts expect that Waters will post 11.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WAT. Leerink Partners upgraded Waters from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $325.00 to $375.00 in a report on Thursday, August 1st. Wells Fargo & Company began coverage on Waters in a report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 target price for the company. The Goldman Sachs Group upgraded Waters to a “hold” rating in a report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price target on Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Cfra set a $389.00 price target on Waters in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Waters currently has an average rating of “Hold” and a consensus target price 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.