Boenning Scattergood Comments on Xylem Inc.’s FY2017 Earnings (XYL)
Xylem Inc. (NYSE:XYL) – Investment analysts at Boenning Scattergood lifted their FY2017 earnings per share estimates for shares of Xylem in a research report issued on Tuesday. Boenning Scattergood analyst R. Connors now expects that the industrial products company will earn $2.29 per share for the year, up from their previous estimate of $2.27. Boenning Scattergood has a “Outperform” rating on the stock. Boenning Scattergood also issued estimates for Xylem’s Q1 2018 earnings at $0.45 EPS and Q3 2018 earnings at $0.75 EPS.
Xylem (NYSE:XYL) last released its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.01. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.18 billion. Xylem had a net margin of 6.85% and a return on equity of 17.74%. Xylem’s revenue for the quarter was up 33.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.54 EPS. ILLEGAL ACTIVITY NOTICE: This piece of content was originally reported by American Banking News and is the property of of American Banking News. If you are reading this piece of content on another domain, it was stolen and republished in violation of international trademark and copyright laws. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/11/02/boenning-scattergood-comments-on-xylem-inc-s-fy2017-earnings-xyl.html.
Several other analysts also recently commented on the stock. Royal Bank Of Canada reiterated an “outperform” rating and issued a $71.00 target price (up previously from $64.00) on shares of Xylem in a report on Wednesday, October 4th. Canaccord Genuity reiterated a “hold” rating and issued a $56.00 target price on shares of Xylem in a report on Friday, October 6th. Stifel Nicolaus reiterated a “hold” rating and issued a $63.00 target price on shares of Xylem in a report on Tuesday, September 5th. Zacks Investment Research upgraded shares of Xylem from a “hold” rating to a “buy” rating and set a $71.00 target price for the company in a report on Thursday, October 5th. Finally, Oppenheimer Holdings, Inc. increased their target price on shares of Xylem from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $64.15.
A number of institutional investors have recently made changes to their positions in XYL. Teachers Advisors LLC lifted its position in Xylem by 12.7% during the first quarter. Teachers Advisors LLC now owns 273,420 shares of the industrial products company’s stock valued at $13,731,000 after purchasing an additional 30,811 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Xylem during the first quarter valued at approximately $314,000. Bank of Nova Scotia bought a new stake in Xylem during the first quarter valued at approximately $2,066,000. Clearbridge Investments LLC lifted its position in Xylem by 682.9% during the first quarter. Clearbridge Investments LLC now owns 64,290 shares of the industrial products company’s stock valued at $3,229,000 after purchasing an additional 56,078 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Xylem by 10.0% during the first quarter. Nomura Asset Management Co. Ltd. now owns 23,010 shares of the industrial products company’s stock valued at $1,155,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 86.59% of the company’s stock.
In other news, insider Kenneth Napolitano sold 9,052 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $60.16, for a total value of $544,568.32. Following the completion of the transaction, the insider now directly owns 35,303 shares in the company, valued at $2,123,828.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by company insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Thursday, November 2nd will be given a $0.18 dividend. The ex-dividend date is Wednesday, November 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.08%. Xylem’s dividend payout ratio (DPR) is currently 41.86%.
Xylem Company Profile
Xylem Inc is a water technology company. The Company designs, manufactures and services engineered solutions across a range of critical applications. It is an equipment and service provider for water and wastewater applications with a portfolio of products and services addressing the cycle of water, from collection, distribution and use to the return of water to the environment.
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