Waters Co. Expected to Post Q2 2024 Earnings of $2.87 Per Share (NYSE:WAT)

Waters Co. (NYSE:WATFree Report) – Equities research analysts at Leerink Partnrs reduced their Q2 2024 earnings per share (EPS) estimates for shares of Waters in a research report issued on Tuesday, February 6th. Leerink Partnrs analyst P. Souda now forecasts that the medical instruments supplier will post earnings of $2.87 per share for the quarter, down from their previous forecast of $2.91. The consensus estimate for Waters’ current full-year earnings is $11.92 per share. Leerink Partnrs also issued estimates for Waters’ FY2024 earnings at $11.95 EPS, Q2 2025 earnings at $3.21 EPS, Q3 2025 earnings at $3.16 EPS, Q4 2025 earnings at $4.31 EPS and FY2025 earnings at $13.16 EPS.

Waters (NYSE:WATGet Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The medical instruments supplier reported $3.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.56 by $0.06. The company had revenue of $819.50 million during the quarter, compared to the consensus estimate of $815.50 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. Waters’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.84 earnings per share.

A number of other research analysts also recently weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of Waters from $305.00 to $290.00 and set a “hold” rating for the company in a research report on Wednesday, November 8th. TheStreet raised Waters from a “c+” rating to a “b-” rating in a report on Wednesday, December 13th. Citigroup raised their price objective on Waters from $265.00 to $300.00 and gave the company a “neutral” rating in a report on Monday, December 11th. Wells Fargo & Company reduced their target price on Waters from $305.00 to $285.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 8th. Finally, Barclays lifted their price target on shares of Waters from $230.00 to $275.00 and gave the company an “underweight” rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a sell rating and eight have issued a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $285.38.

Read Our Latest Analysis on WAT

Waters Stock Performance

Shares of NYSE WAT opened at $323.54 on Thursday. The company has a market capitalization of $19.13 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 7.03 and a beta of 0.92. The company has a debt-to-equity ratio of 2.71, a quick ratio of 1.46 and a current ratio of 0.69. The company’s fifty day moving average price is $313.53 and its 200 day moving average price is $284.83. Waters has a 1 year low of $231.90 and a 1 year high of $346.24.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. First Capital Advisors Group LLC. purchased a new stake in shares of Waters during the second quarter worth $26,000. Institutional & Family Asset Management LLC purchased a new stake in Waters during the 2nd quarter valued at about $27,000. West Tower Group LLC acquired a new stake in Waters in the 2nd quarter valued at about $28,000. Exchange Traded Concepts LLC purchased a new position in Waters in the 4th quarter worth approximately $35,000. Finally, Harbour Investments Inc. boosted its holdings in shares of Waters by 11,000.0% during the 2nd quarter. Harbour Investments Inc. now owns 111 shares of the medical instruments supplier’s stock worth $30,000 after purchasing an additional 110 shares during the last quarter. 94.01% of the stock is owned by institutional investors and hedge funds.

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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