Badger Meter Stock Rating Upgraded by Zacks (BMI)
Badger Meter (NYSE:BMI) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research report issued on Monday, Stock Ratings Network.com reports. The firm currently has a $49.00 price objective on the stock. Zacks‘ target price suggests a potential upside of 5.49% from the stock’s previous close.
Zacks‘ analyst wrote, “We have upgraded our recommendation on Badger Meter from Underperform to Neutral with a target price of $49.00. In the second quarter, Badger Meter’s earnings per share declined 15.4% year over year to $0.44 due to litigation and pension charges. Replacement demand is expected to recover which will drive growth in water meter. Badger Meter will also benefit from improved volumes in both its municipal and industrial product lines. Going forward, Badger Meter will benefit from acquisition and new product launches. Subdued growth for automation sales and escalated operating costs remain concerns. Additionally, ongoing global economic weakness may affect the performance of Badger Meter, moving forward.”
Badger Meter (NYSE:BMI) traded down 2.05% during mid-day trading on Monday, hitting $45.50. 18,190 shares of the company’s stock traded hands. Badger Meter has a 52-week low of $36.40 and a 52-week high of $54.28. The stock’s 50-day moving average is $46.27 and its 200-day moving average is $46.80. The company has a market cap of $653.8 million and a P/E ratio of 28.19.
Badger Meter (NYSE:BMI) last announced its earnings results on Friday, July 19th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.52 earnings per share. Badger Meter’s revenue was up 7.7% compared to the same quarter last year. On average, analysts predict that Badger Meter will post $1.68 earnings per share for the current fiscal year.
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement and control technologies serving markets globally.
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