Waters (NYSE:WAT) Issues FY 2024 Earnings Guidance

Waters (NYSE:WAT) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided EPS guidance of 11.670-11.870 for the period, compared to the consensus EPS estimate of 11.600. The company issued revenue guidance of $2.9 billion-$3.0 billion, compared to the consensus revenue estimate of $2.9 billion. Waters also updated its Q4 guidance to $3.90-4.10 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on WAT. TD Cowen increased their price objective on Waters from $325.00 to $363.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Jefferies Financial Group raised Waters from a “hold” rating to a “buy” rating and upped their price objective for the company from $355.00 to $415.00 in a report on Tuesday, October 8th. Evercore ISI lifted their target price on Waters from $335.00 to $355.00 and gave the stock an “in-line” rating in a report on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Waters from $330.00 to $310.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, The Goldman Sachs Group raised Waters to a “hold” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $342.58.

Waters Stock Down 1.2 %

Shares of NYSE WAT opened at $322.57 on Friday. The stock has a market capitalization of $19.15 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 6.42 and a beta of 0.95. 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 firm’s 50-day moving average price is $341.42 and its 200-day moving average price is $324.75. Waters has a 12-month low of $234.04 and a 12-month high of $367.21.

Waters (NYSE:WAT) last released its earnings results on Wednesday, July 31st. The medical instruments supplier reported $2.63 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.08. The company had revenue of $709.00 million during the quarter, compared to analysts’ expectations of $700.09 million. Waters had a net margin of 20.71% and a return on equity of 56.81%. Waters’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period last year, the business earned $2.80 EPS. On average, equities research analysts anticipate that Waters will post 11.6 EPS for the current fiscal year.

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.