Waters (NYSE:WAT) Updates Q4 Earnings Guidance

Waters (NYSE:WAT) updated its fourth quarter earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $3.90-4.10 for the period, compared to the consensus 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 Stock Performance

NYSE WAT traded down $4.95 during trading hours on Monday, reaching $382.26. The company’s stock had a trading volume of 363,136 shares, compared to its average volume of 428,831. Waters has a 52 week low of $241.95 and a 52 week high of $391.00. The stock has a market cap of $22.69 billion, a PE ratio of 36.94, a PEG ratio of 6.35 and a beta of 0.97. The company has a current ratio of 2.10, a quick ratio of 1.42 and a debt-to-equity ratio of 1.42. The business has a 50-day simple moving average of $342.04 and a 200 day simple moving average of $325.28.

Waters (NYSE:WAT) last announced its earnings results on Friday, November 1st. The medical instruments supplier reported $2.93 EPS for the quarter, topping the consensus estimate of $2.68 by $0.25. Waters had a return on equity of 56.81% and a net margin of 20.71%. The firm had revenue of $740.30 million for the quarter, compared to analysts’ expectations of $712.99 million. During the same quarter in the previous year, the company earned $2.84 earnings per share. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. Equities research analysts predict that Waters will post 11.6 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Waters to a “hold” rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Waters from $330.00 to $310.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and raised their price target for the stock from $355.00 to $415.00 in a research report on Tuesday, October 8th. Leerink Partnrs upgraded shares of Waters from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 1st. Finally, Stifel Nicolaus raised their target price on Waters from $332.00 to $360.00 and gave the stock a “hold” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Waters has an average rating of “Hold” and a consensus price target of $361.17.

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.