Zacks: Brokerages Expect Badger Meter, Inc. (BMI) Will Announce Earnings of $0.35 Per Share
Equities analysts expect that Badger Meter, Inc. (NYSE:BMI) will post $0.35 earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Badger Meter’s earnings, with the highest EPS estimate coming in at $0.38 and the lowest estimate coming in at $0.31. Badger Meter reported earnings per share of $0.30 in the same quarter last year, which suggests a positive year-over-year growth rate of 16.7%. The business is expected to issue its next quarterly earnings report after the market closes on Monday, October 16th.
According to Zacks, analysts expect that Badger Meter will report full year earnings of $1.26 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.27. For the next year, analysts anticipate that the company will report earnings of $1.40 per share, with EPS estimates ranging from $1.38 to $1.43. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Badger Meter.
Badger Meter (NYSE:BMI) last released its quarterly earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The business had revenue of $104.17 million for the quarter, compared to analysts’ expectations of $108.02 million. During the same period last year, the business earned $0.65 EPS. The company’s revenue was up .3% compared to the same quarter last year.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Canaccord Genuity restated a “hold” rating and set a $37.00 target price on shares of Badger Meter in a research note on Wednesday, May 24th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Finally, Sidoti restated a “buy” rating and set a $52.00 target price (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.00.
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Badger Meter (NYSE:BMI) traded up 0.55% during mid-day trading on Friday, hitting $45.80. 314,681 shares of the stock were exchanged. The company has a 50 day moving average of $44.91 and a 200 day moving average of $40.13. Badger Meter has a 12-month low of $29.30 and a 12-month high of $46.85. The firm has a market cap of $1.33 billion, a P/E ratio of 38.81 and a beta of 0.57.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Badger Meter’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend is Tuesday, August 29th. Badger Meter’s dividend payout ratio is presently 44.44%.
In related news, VP Beverly L. P. Smiley sold 19,610 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $45.14, for a total transaction of $885,195.40. Following the sale, the vice president now directly owns 68,926 shares in the company, valued at $3,111,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Beverly L. P. Smiley sold 7,550 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $45.26, for a total transaction of $341,713.00. Following the sale, the vice president now owns 56,449 shares in the company, valued at $2,554,881.74. The disclosure for this sale can be found here. Insiders have sold 63,340 shares of company stock worth $2,859,651 over the last 90 days. Insiders own 4.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC purchased a new stake in shares of Badger Meter during the second quarter worth approximately $251,000. State Street Corp increased its stake in Badger Meter by 4.7% in the second quarter. State Street Corp now owns 715,440 shares of the scientific and technical instruments company’s stock valued at $28,513,000 after purchasing an additional 32,322 shares during the last quarter. Voya Investment Management LLC increased its stake in Badger Meter by 8.7% in the second quarter. Voya Investment Management LLC now owns 13,968 shares of the scientific and technical instruments company’s stock valued at $557,000 after purchasing an additional 1,121 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Badger Meter by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,127,376 shares of the scientific and technical instruments company’s stock valued at $44,926,000 after purchasing an additional 10,712 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Badger Meter by 3.3% in the second quarter. Suntrust Banks Inc. now owns 32,257 shares of the scientific and technical instruments company’s stock valued at $1,285,000 after purchasing an additional 1,033 shares during the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.
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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