Waters (NYSE:WAT) Announces Earnings Results

Waters (NYSE:WAT) posted its quarterly earnings results on Friday. The medical instruments supplier reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.68 by $0.25, Briefing.com reports. The business had revenue of $740.30 million for the quarter, compared to the consensus estimate of $712.99 million. Waters had a return on equity of 56.81% and a net margin of 20.71%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.84 EPS.

Waters Stock Performance

NYSE:WAT traded up $64.10 during mid-day trading on Friday, hitting $387.21. The company’s stock had a trading volume of 1,905,943 shares, compared to its average volume of 376,298. The business’s fifty day moving average is $342.04 and its two-hundred day moving average is $325.20. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 38.57, a PEG ratio of 6.35 and a beta of 0.97. Waters has a 1 year low of $241.40 and a 1 year high of $389.35. The company has a debt-to-equity ratio of 1.42, a current ratio of 2.10 and a quick ratio of 1.42.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Waters from a “hold” rating to a “buy” rating and boosted their price target for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Leerink Partnrs upgraded Waters from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 1st. Evercore ISI upped their price objective on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft cut their target price on Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Wells Fargo & Company began coverage on shares of Waters in a report on Tuesday, August 27th. They issued an “overweight” rating and a $380.00 price target on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Waters has a consensus rating of “Hold” and a consensus price target of $342.58.

Waters Company Profile

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.