Waters (NYSE:WAT) Issues FY 2024 Earnings Guidance

Waters (NYSE:WAT - Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 11.750-12.050 for the period, compared to the consensus EPS estimate of 11.890. 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 Q2 2024 guidance to 2.500-2.600 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Evercore ISI lifted their target price on Waters from $320.00 to $340.00 and gave the stock an in-line rating in a report on Thursday, April 4th. Robert W. Baird dropped their target price on Waters from $319.00 to $312.00 and set a neutral rating for the company in a report on Wednesday. Stifel Nicolaus lifted their target price on Waters from $330.00 to $332.00 and gave the stock a hold rating in a report on Wednesday. Barclays dropped their target price on Waters from $300.00 to $295.00 and set an underweight rating for the company in a report on Wednesday. Finally, TD Cowen boosted their price target on Waters from $350.00 to $358.00 and gave the company a hold rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $306.70.

Waters Price Performance

NYSE WAT traded down $2.26 during trading on Wednesday, hitting $323.80. 398,469 shares of the company's stock were exchanged, compared to its average volume of 420,346. The company has a current ratio of 2.22, a quick ratio of 1.57 and a debt-to-equity ratio of 2.00. The company has a market cap of $19.20 billion, a PE ratio of 30.01, a P/E/G ratio of 6.39 and a beta of 0.98. Waters has a fifty-two week low of $231.90 and a fifty-two week high of $363.80. The stock's 50 day moving average price is $333.23 and its two-hundred day moving average price is $310.76.

Waters (NYSE:WAT - Get Free Report) last issued its earnings results on Tuesday, May 7th. The medical instruments supplier reported $2.21 EPS for the quarter, topping the consensus estimate of $2.10 by $0.11. The firm had revenue of $636.80 million during the quarter, compared to the consensus estimate of $635.57 million. Waters had a return on equity of 81.30% and a net margin of 21.72%. The business's quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.49 earnings per share. Research analysts expect that Waters will post 11.89 EPS for the current year.

Insiders Place Their Bets

In other news, Director Linda Baddour sold 500 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $355.54, for a total transaction of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at $799,965. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.82% of the company's stock.

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.