Waters (NYSE:WAT) Issues FY 2024 Earnings Guidance

Waters (NYSE:WATGet Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 11.750-12.050 for the period, compared to the consensus EPS estimate of 11.970. The company issued revenue guidance of $3.0 billion-$3.0 billion, compared to the consensus revenue estimate of $3.0 billion. Waters also updated its Q1 2024 guidance to 2.050-2.150 EPS.

Waters Stock Performance

Shares of NYSE WAT opened at $324.85 on Tuesday. Waters has a 12-month low of $231.90 and a 12-month high of $346.24. The company has a market cap of $19.21 billion, a PE ratio of 29.50, a P/E/G ratio of 6.78 and a beta of 0.92. The stock has a 50 day simple moving average of $311.56 and a 200-day simple moving average of $284.26. The company has a current ratio of 2.19, a quick ratio of 1.46 and a debt-to-equity ratio of 2.71.

Waters (NYSE:WATGet Free Report) last announced its earnings results on Tuesday, November 7th. The medical instruments supplier reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.28. The business had revenue of $711.69 million during the quarter, compared to analysts’ expectations of $722.27 million. Waters had a return on equity of 102.22% and a net margin of 21.80%. The company’s quarterly revenue was up .4% on a year-over-year basis. During the same quarter last year, the business posted $2.64 earnings per share. On average, equities research analysts forecast that Waters will post 11.69 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have commented on WAT. Barclays increased their target price on shares of Waters from $230.00 to $275.00 and gave the stock an underweight rating in a research report on Thursday, January 25th. TheStreet raised Waters from a c+ rating to a b- rating in a research report on Wednesday, December 13th. Stifel Nicolaus lowered their price target on Waters from $305.00 to $290.00 and set a hold rating on the stock in a research report on Wednesday, November 8th. Wells Fargo & Company lowered their price target on Waters from $305.00 to $285.00 and set an equal weight rating on the stock in a research report on Wednesday, November 8th. Finally, JPMorgan Chase & Co. lowered their price target on Waters from $260.00 to $250.00 and set a neutral rating on the stock in a research report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $285.38.

Read Our Latest Stock Report on Waters

Institutional Trading of Waters

A number of institutional investors have recently bought and sold shares of WAT. First Capital Advisors Group LLC. acquired a new stake in Waters during the 2nd quarter worth $26,000. Harbour Investments Inc. grew its holdings in shares of Waters by 11,000.0% in the 2nd quarter. Harbour Investments Inc. now owns 111 shares of the medical instruments supplier’s stock valued at $30,000 after buying an additional 110 shares during the period. Clear Street Markets LLC grew its holdings in shares of Waters by 94.9% in the 1st quarter. Clear Street Markets LLC now owns 115 shares of the medical instruments supplier’s stock valued at $36,000 after buying an additional 56 shares during the period. Tyler Stone Wealth Management acquired a new position in shares of Waters in the 2nd quarter valued at $40,000. Finally, Advisory Services Network LLC grew its holdings in shares of Waters by 64.2% in the 1st quarter. Advisory Services Network LLC now owns 133 shares of the medical instruments supplier’s stock valued at $41,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 94.01% of the company’s stock.

About Waters

(Get Free Report)

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.

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Earnings History and Estimates for Waters (NYSE:WAT)

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