Brokers Offer Predictions for Badger Meter, Inc.’s FY2017 Earnings (NYSE:BMI)
Badger Meter, Inc. (NYSE:BMI) – Gabelli raised their FY2017 earnings estimates for shares of Badger Meter in a research report issued to clients and investors on Monday. Gabelli analyst J. Garza now expects that the scientific and technical instruments company will post earnings of $1.25 per share for the year, up from their previous forecast of $1.20.
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, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $104.17 million during the quarter, compared to the consensus estimate of $108.02 million. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. WARNING: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/07/25/brokers-offer-predictions-for-badger-meter-inc-s-fy2017-earnings-nysebmi.html.
BMI has been the subject of a number of other reports. Zacks Investment Research lowered Badger Meter from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. BidaskClub cut Badger Meter from a “buy” rating to a “hold” rating in a report on Thursday, June 15th. Boenning Scattergood reiterated a “hold” rating on shares of Badger Meter in a report on Friday. Sidoti reiterated a “buy” rating and issued a $52.00 price target (up previously from $50.00) on shares of Badger Meter in a report on Monday, June 19th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $37.00 price target on shares of Badger Meter in a report on Wednesday, May 24th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $42.00.
Shares of Badger Meter (NYSE BMI) traded up 0.22% during midday trading on Tuesday, reaching $45.20. 9,018 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $40.48 and a 200-day moving average of $38.16. The company has a market capitalization of $1.31 billion, a PE ratio of 38.31 and a beta of 0.54. Badger Meter has a 1-year low of $29.30 and a 1-year high of $45.45.
A number of institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue boosted its position in 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 valued at $117,000 after buying an additional 60 shares in the last quarter. Acrospire Investment Management LLC purchased a new position in Badger Meter during the first quarter valued at about $135,000. Clean Yield Group purchased a new position in Badger Meter during the first quarter valued at about $153,000. Victory Capital Management Inc. boosted its position in 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 valued at $164,000 after buying an additional 1,116 shares in the last quarter. Finally, Perigon Wealth Management LLC purchased a new position in Badger Meter during the fourth quarter valued at about $187,000. Institutional investors and hedge funds own 84.31% of the company’s stock.
In related news, VP Raymond G. Serdynski sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $40.58, for a total value of $101,450.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Beverly L. P. Smiley sold 22,100 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $40.30, for a total value of $890,630.00. Following the completion of the transaction, the vice president now owns 95,633 shares in the company, valued at approximately $3,854,009.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,904 shares of company stock worth $3,750,527. 4.50% of the stock is owned by company insiders.
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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