MUELLER WATER PRODUCTS (MWA) Expected to Post Quarterly Sales of $234.99 Million
Brokerages expect MUELLER WATER PRODUCTS (NYSE:MWA) to announce sales of $234.99 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for MUELLER WATER PRODUCTS’s earnings, with the highest sales estimate coming in at $242.00 million and the lowest estimate coming in at $231.00 million. MUELLER WATER PRODUCTS posted sales of $310.10 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 24.2%. The company is scheduled to report its next earnings results on Wednesday, August 2nd.
According to Zacks, analysts expect that MUELLER WATER PRODUCTS will report full year sales of $234.99 million for the current fiscal year, with estimates ranging from $820.00 million to $840.00 million. For the next financial year, analysts forecast that the business will post sales of $884.87 million per share, with estimates ranging from $841.00 million to $952.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for MUELLER WATER PRODUCTS.
MUELLER WATER PRODUCTS (NYSE:MWA) last released its earnings results on Thursday, April 27th. The industrial products company reported $0.09 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.09. The company had revenue of $199.70 million during the quarter, compared to analysts’ expectations of $206 million. MUELLER WATER PRODUCTS had a return on equity of 18.45% and a net margin of 12.45%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS.
A number of research analysts have recently commented on MWA shares. Nomura started coverage on MUELLER WATER PRODUCTS in a research note on Wednesday, April 12th. They issued a “buy” rating and a $15.00 price target for the company. Zacks Investment Research upgraded MUELLER WATER PRODUCTS from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Tuesday, April 11th. CIBC reiterated a “buy” rating on shares of MUELLER WATER PRODUCTS in a research note on Wednesday, May 10th. Oppenheimer Holdings, Inc. reiterated a “buy” rating on shares of MUELLER WATER PRODUCTS in a research note on Tuesday, May 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $15.00 price target on shares of MUELLER WATER PRODUCTS in a research note on Tuesday, March 14th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $13.71.
TRADEMARK VIOLATION NOTICE: “MUELLER WATER PRODUCTS (MWA) Expected to Post Quarterly Sales of $234.99 Million” was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/07/07/mueller-water-products-mwa-expected-to-post-quarterly-sales-of-234-99-million.html.
MUELLER WATER PRODUCTS (NYSE:MWA) traded up 0.71% during midday trading on Friday, hitting $11.29. The stock had a trading volume of 242,999 shares. The company has a 50-day moving average of $11.32 and a 200-day moving average of $12.24. MUELLER WATER PRODUCTS has a 1-year low of $10.45 and a 1-year high of $14.20. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 15.24 and a beta of 1.38.
In other news, Director Bernard G. Rethore sold 56,400 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $11.23, for a total value of $633,372.00. Following the completion of the transaction, the director now directly owns 27,303 shares in the company, valued at approximately $306,612.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shirley C. Franklin sold 9,156 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $11.40, for a total value of $104,378.40. Following the completion of the transaction, the director now owns 39,157 shares of the company’s stock, valued at $446,389.80. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in MUELLER WATER PRODUCTS by 14,036.8% in the first quarter. BlackRock Inc. now owns 13,522,561 shares of the industrial products company’s stock worth $159,837,000 after buying an additional 13,426,906 shares during the last quarter. Vanguard Group Inc. increased its stake in MUELLER WATER PRODUCTS by 8.8% in the first quarter. Vanguard Group Inc. now owns 12,650,343 shares of the industrial products company’s stock worth $149,528,000 after buying an additional 1,017,949 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in MUELLER WATER PRODUCTS by 273.5% in the first quarter. Gamco Investors INC. ET AL now owns 5,103,980 shares of the industrial products company’s stock worth $60,329,000 after buying an additional 3,737,574 shares during the last quarter. Norges Bank bought a new stake in MUELLER WATER PRODUCTS during the fourth quarter worth $51,312,000. Finally, Impax Asset Management LTD increased its stake in MUELLER WATER PRODUCTS by 31.1% in the first quarter. Impax Asset Management LTD now owns 3,411,887 shares of the industrial products company’s stock worth $40,329,000 after buying an additional 809,000 shares during the last quarter. Institutional investors and hedge funds own 87.34% of the company’s stock.
About MUELLER WATER PRODUCTS
Mueller Water Products, Inc is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water in North America. The Company operates through two segments: Mueller Co and Mueller Technologies. The Mueller Co segment manufactures valves for water and gas systems, and dry-barrel and wet-barrel fire hydrants.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for MUELLER WATER PRODUCTS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MUELLER WATER PRODUCTS and related companies with MarketBeat.com's FREE daily email newsletter.