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Milford, Massachusetts-based Waters Corporation (WAT) is an analytical instrument manufacturer that offers practical, sustainable products for laboratory-dependent organizations. The company has a market cap of $32.5 billion and operates through two segments, Waters and TA. WAT is expected to release its Q1 2026 earnings soon.
Ahead of the event, analysts expect the company’s EPS to be $2.31 on a diluted basis, up 2.7% from $2.25 in the year-ago quarter. The company has exceeded Wall Street’s EPS estimates in each of its last four quarters.
For fiscal 2026, analysts project the company’s EPS to be $14.39, up 9.6% from $13.13 in fiscal 2025. Moreover, its EPS is expected to rise by roughly 14.1% year over year (YoY) to $16.42 in fiscal 2027.
WAT stock has declined marginally over the past 52 weeks, underperforming the S&P 500 Index’s ($SPX) 28.9% rise and the State Street Healthcare Select Sector SPDR ETF’s (XLV) 7.4% rise during the same time frame.
On Feb. 9, WAT stock fell 13.9% despite posting seemingly better-than-expected Q4 2025 earnings. The company’s revenue for the quarter grew 7% year-over-year (YOY) to $932.4 million and surpassed Wall Street's forecast. Moreover, its adjusted EPS amounted to $4.53, also surpassing the Street’s estimates. However, investor confidence was lost due to the company’s softer near-term guidance and rising uncertainty around growth. WAT expects its adjusted EPS for Q1 2026 to be in the range of $2.25 to $2.35.
Analysts are moderately bullish on WAT, with the stock having a “Moderate Buy” rating overall. Among the 21 analysts covering the stock, 12 are recommending a “Strong Buy,” and nine suggest a “Hold.” WAT’s average analyst price target is $390.57, indicating an upside of 18% from the current levels.
