Badger Meter, Inc. (NYSE:BMI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Badger Meter, Inc. (NYSE:BMI) issued its earnings results on Thursday. The scientific and technical instruments company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01, Bloomberg Earnings reports. Badger Meter had a net margin of 8.37% and a return on equity of 13.02%. The company had revenue of $104.17 million for the quarter, compared to the consensus estimate of $108.02 million. During the same quarter in the previous year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up .3% compared to the same quarter last year.
Badger Meter (NYSE BMI) traded up 0.85% on Thursday, hitting $41.75. The company had a trading volume of 156,405 shares. The firm has a 50-day moving average price of $40.20 and a 200-day moving average price of $38.04. Badger Meter has a 12-month low of $29.30 and a 12-month high of $41.95. The firm has a market capitalization of $1.22 billion, a PE ratio of 36.95 and a beta of 0.54.
In related news, VP Richard E. Johnson sold 28,004 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $41.34, for a total value of $1,157,685.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Richard A. Meeusen sold 4,301 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $40.29, for a total value of $173,287.29. Following the completion of the transaction, the chairman now owns 172,724 shares in the company, valued at approximately $6,959,049.96. The disclosure for this sale can be found here. Insiders sold 120,908 shares of company stock worth $4,908,212 in the last 90 days. 4.50% of the stock is owned by company insiders.
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Several equities research analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Badger Meter from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BidaskClub downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Sidoti restated a “buy” rating and issued a $52.00 target price (up previously from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Finally, Canaccord Genuity restated a “hold” rating and issued a $37.00 target price on shares of Badger Meter in a research note on Wednesday, May 24th.
About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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