Waters Corporation (NYSE:WAT) has a history of solid growth, but its first quarter report disappointed the market, causing its stock price to drop. The stock is still expensive and given the uncertainty surrounding the company’s future growth, I’m on the sidelines for now.
Financials
Waters has a history of solid growth with its earnings increasing at an average rate of 9.4% per year over the last decade. Waters operates profitably with high margins. The company’s profit margins average around 22% and its return on equity averages around 30%.
Waters operates with moderately high