Mueller Water Products (MWA) Announces Quarterly Earnings Results, Hits Estimates
Mueller Water Products (NYSE:MWA) posted its quarterly earnings results on Monday. The company reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11, Stock Ratings News reports. The company had revenue of $318.50 million for the quarter, compared to the consensus estimate of $326.45 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis.
Shares of Mueller Water Products (NYSE:MWA) traded up 1.17% during mid-day trading on Monday, hitting $7.81. The stock had a trading volume of 979,977 shares. Mueller Water Products has a one year low of $7.29 and a one year high of $10.04. The stock has a 50-day moving average of $8.40 and a 200-day moving average of $8.89. The company has a market cap of $1.244 billion and a P/E ratio of 31.90.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 20th. Stockholders of record on Monday, August 11th will be given a dividend of $0.0175 per share. This represents a $0.07 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, August 7th.
Several analysts have recently commented on the stock. Analysts at Northland Securities initiated coverage on shares of Mueller Water Products in a research note on Tuesday, July 8th. They set a “market perform” rating and a $9.00 price target on the stock. Analysts at Gabelli initiated coverage on shares of Mueller Water Products in a research note on Friday, June 27th. They set a “hold” rating and a $9.75 price target on the stock. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Mueller Water Products presently has a consensus rating of “Hold” and an average price target of $11.57.
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.