Badger Meter, Inc. (NYSE:BMI) Expected to Post Quarterly Sales of $104.08 Million
Equities analysts expect that Badger Meter, Inc. (NYSE:BMI) will report sales of $104.08 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Badger Meter’s earnings, with the lowest sales estimate coming in at $100.12 million and the highest estimate coming in at $108.03 million. Badger Meter reported sales of $96.27 million during the same quarter last year, which would suggest a positive year over year growth rate of 8.1%. The firm is scheduled to report its next earnings results on Monday, October 16th.
According to Zacks, analysts expect that Badger Meter will report full year sales of $104.08 million for the current year, with estimates ranging from $406.31 million to $418.03 million. For the next fiscal year, analysts expect that the firm will report sales of $435.86 million per share, with estimates ranging from $421.77 million to $445.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Badger Meter.
Badger Meter (NYSE:BMI) last posted its quarterly earnings data on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Badger Meter had a return on equity of 13.36% and a net margin of 8.67%. The company had revenue of $104.17 million during the quarter, compared to analyst estimates of $108.02 million. During the same quarter last year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up .3% on a year-over-year basis.
BMI has been the subject of a number of recent research reports. BidaskClub downgraded shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research downgraded shares of Badger Meter from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Canaccord Genuity reissued a “hold” rating and issued a $37.00 price objective on shares of Badger Meter in a research note on Wednesday, May 24th. Sidoti reissued a “buy” rating and issued a $52.00 price objective (up previously from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research note on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $42.00.
In other news, insider Ronald H. Dix sold 2,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $41.07, for a total transaction of $82,140.00. Following the transaction, the insider now directly owns 43,000 shares of the company’s stock, valued at $1,766,010. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Richard E. Johnson sold 28,004 shares of the company’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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,908 shares of company stock worth $4,908,212. Insiders own 4.50% of the company’s stock.
Institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 60 shares during the last quarter. Acrospire Investment Management LLC acquired a new position in shares of Badger Meter during the first quarter worth about $135,000. Clean Yield Group acquired a new position in shares of Badger Meter during the first quarter worth about $153,000. Victory Capital Management Inc. increased its position in shares of Badger Meter by 33.2% in the first quarter. Victory Capital Management Inc. now owns 4,475 shares of the scientific and technical instruments company’s stock worth $164,000 after buying an additional 1,116 shares during the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in shares of Badger Meter during the fourth quarter worth about $187,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.
Badger Meter (BMI) traded up 7.07% on Friday, reaching $44.70. The company had a trading volume of 219,744 shares. Badger Meter has a 52 week low of $29.30 and a 52 week high of $46.85. The stock’s 50-day moving average is $40.20 and its 200-day moving average is $38.04. The company has a market capitalization of $1.30 billion, a P/E ratio of 39.56 and a beta of 0.54.
Badger Meter Company Profile
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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