Badger Meter’s “Underperform” Rating Reaffirmed at Zacks (BMI)
Badger Meter (NYSE:BMI)‘s stock had its “underperform” rating restated by Zacks in a research report issued on Friday, AnalystRatingsNetwork reports. They currently have a $41.00 target price on the stock. Zacks‘ target price would indicate a potential downside of 9.01% from the stock’s previous close.
Zacks‘ analyst wrote, “Badger Meter’s earnings per share declined 15.4% year over year to $0.44 affected by the negative impact of litigation and pension charges. Total revenue increased 8% year over year in the second quarter to $88 million driven by higher sales of municipal water as well as industrial flow products. However, subdued growth for automation sales and higher operating costs remain concerns. Moreover, ongoing global economic weakness may affect the performance of Badger Meter, moving forward. We reiterate our Underperform recommendation on Badger Meter with a target price of $41.00.”
Shares of Badger Meter (NYSE:BMI) traded up 0.73% on Friday, hitting $45.39. The stock had a trading volume of 103,871 shares. Badger Meter has a 1-year low of $35.99 and a 1-year high of $54.28. The stock has a 50-day moving average of $47.31 and a 200-day moving average of $47.39. The company has a market cap of $652.2 million and a P/E ratio of 27.34.
Badger Meter (NYSE:BMI) last released its earnings data on Friday, July 19th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.49 by $0.05. The company had revenue of $88.30 million for the quarter, compared to the consensus estimate of $86.00 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis. On average, analysts predict that Badger Meter will post $1.68 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, September 13th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Wednesday, August 28th. This is a boost from Badger Meter’s previous quarterly dividend of $0.17.
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement and control technologies serving markets globally.
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