Watts Water surges 11% on preliminary Q2 results
Water quality product supplier Watts Water Technologies Inc. (NYSE:WTS) is up 11% in today’s trading after announcing after the close on Thursday its second-quarter earnings would beat analyst expectations. For the quarter ended June 29, Watts expects earnings per share of $0.52 to $0.54 on revenues of $389 million. Wall Street is expecting $0.41 per share on revenues of $344.3 million. Watts Water will report earnings on July 29.
In today’s trading, shares of North Andover, Mass.-based company is trading at $27.07, up $2.61 from Thursday’s close. Trading volume has soared to nearly 1 million shares, up from the average of 600,000.
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