These Analysts Revise Their Forecasts On Waters After Q2 Results

Waters Corporation WAT reported upbeat second-quarter earnings, but lowered its FY24 outlook on Wednesday.

Waters reported quarterly earnings of $2.63 per share which beat the analyst consensus estimate of $2.56 per share. The company reported quarterly sales of $708.529 million which beat the analyst consensus estimate of $700.079 million.

“Our team executed well to deliver second quarter results that exceeded both our top-line and bottom-line reported guidance,” said Dr. Udit Batra, President & CEO, Waters Corporation. “Our margins remained resilient, thanks to our disciplined approach to operational management, which offset headwinds from volume, currency, and inflation.”

Waters said it now sees FY24 adjusted earnings of $11.55 to $11.65 per share, versus earlier forecast of $11.75 to 12.05 per share. The company now expects sales growth outlook of -2.2% to -0.7%.

Waters shares gained 2.8% to trade at $345.82 on Thursday.

These analysts made changes to their price targets on Waters following earnings announcement.

• Leerink Partners analyst Puneet Souda upgraded Waters from Market Perform to Outperform and boosted the price target from $325 to $375.
• Deutsche Bank analyst Justin Bowers maintained the stock with a Hold and lowered the price target from $330 to $310.
• Barclays analyst Luke Sergott maintained Waters with an Underweight rating, while raising the price target from $275 to $300.

Read Next:

• Top 3 Health Care Stocks That Are Set To Fly This Quarter