$97.06 Million in Sales Expected for Badger Meter, Inc. (BMI) This Quarter
Brokerages expect Badger Meter, Inc. (NYSE:BMI) to post $97.06 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Badger Meter’s earnings, with the highest sales estimate coming in at $99.00 million and the lowest estimate coming in at $95.35 million. Badger Meter posted sales of $93.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.3%. The company is scheduled to announce its next earnings report on Monday, February 5th.
According to Zacks, analysts expect that Badger Meter will report full year sales of $97.06 million for the current financial year, with estimates ranging from $401.14 million to $410.00 million. For the next financial year, analysts expect that the business will report sales of $426.06 million per share, with estimates ranging from $417.70 million to $440.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Badger Meter.
Badger Meter (NYSE:BMI) last posted its quarterly earnings results on Monday, October 16th. The scientific and technical instruments company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). The company had revenue of $100.00 million for the quarter, compared to analyst estimates of $102.86 million. Badger Meter had a return on equity of 12.62% and a net margin of 8.39%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period last year, the company earned $0.30 earnings per share.
A number of brokerages recently weighed in on BMI. Stifel Nicolaus restated a “hold” rating and set a $43.00 price objective (down from $49.00) on shares of Badger Meter in a research note on Tuesday, October 17th. BidaskClub upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a research note on Monday, July 24th. Robert W. Baird restated a “hold” rating and set a $44.00 price objective on shares of Badger Meter in a research note on Tuesday, October 17th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Finally, Zacks Investment Research cut shares of Badger Meter from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.
In other Badger Meter news, Director Andrew J. Policano sold 8,850 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $45.67, for a total value of $404,179.50. Following the sale, the director now directly owns 32,561 shares in the company, valued at $1,487,060.87. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Richard A. Meeusen sold 16,500 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $44.61, for a total transaction of $736,065.00. Following the completion of the sale, the chairman now owns 164,620 shares in the company, valued at $7,343,698.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,510 shares of company stock worth $2,732,273. 4.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC bought a new stake in Badger Meter in the second quarter worth about $251,000. State Street Corp raised its position 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 worth $28,513,000 after acquiring an additional 32,322 shares in the last quarter. Voya Investment Management LLC raised its position 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 worth $557,000 after acquiring an additional 1,121 shares in the last quarter. Dimensional Fund Advisors LP raised its position 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 worth $44,926,000 after acquiring an additional 10,712 shares in the last quarter. Finally, Suntrust Banks Inc. raised its position 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 worth $1,285,000 after acquiring an additional 1,033 shares in the last quarter. Hedge funds and other institutional investors own 83.95% of the company’s stock.
Shares of Badger Meter (BMI) traded down 0.45% during midday trading on Wednesday, reaching $43.80. 126,353 shares of the company were exchanged. Badger Meter has a 52-week low of $31.16 and a 52-week high of $52.10. The company has a market capitalization of $1.27 billion, a PE ratio of 38.09 and a beta of 0.56. The firm’s 50 day moving average is $47.36 and its 200-day moving average is $42.66.
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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