Waters (NYSE:WAT) Releases FY24 Earnings Guidance

Waters (NYSE:WAT) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.75-12.05 for the period, compared to the consensus estimate of $11.88. The company issued revenue guidance of +0-2% yr/yr to ~$2.96-3.02 billion, compared to the consensus revenue estimate of $2.98 billion. Waters also updated its Q2 guidance to $2.50-2.60 EPS.

Waters Stock Performance

NYSE:WAT traded up $10.12 during trading hours on Friday, reaching $346.54. 26,270 shares of the company’s stock were exchanged, compared to its average volume of 416,014. Waters has a 1-year low of $231.90 and a 1-year high of $363.80. The company has a quick ratio of 1.57, a current ratio of 2.22 and a debt-to-equity ratio of 2.00. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 6.39 and a beta of 0.98. The company has a 50-day moving average of $332.93 and a 200 day moving average of $311.03.

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Waters

In related news, Director Linda Baddour sold 500 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $355.54, for a total value of $177,770.00. Following the sale, the director now directly owns 2,250 shares in the company, valued at approximately $799,965. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.82% of the stock is owned by corporate insiders.

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.