Badger Meter (NYSE:BMI) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS
by Tristan Rich · The Markets DailyBadger Meter (NYSE:BMI – Get Free Report) announced its quarterly earnings results on Thursday. The scientific and technical instruments company reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01, Briefing.com reports. Badger Meter had a return on equity of 18.03% and a net margin of 14.27%. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was up .1% compared to the same quarter last year.
Badger Meter Stock Up 8.4%
Shares of NYSE BMI opened at $142.99 on Thursday. The company has a market capitalization of $4.14 billion, a PE ratio of 30.06, a PEG ratio of 3.18 and a beta of 0.64. The stock’s 50 day moving average price is $129.85 and its 200-day moving average price is $132.38. Badger Meter has a twelve month low of $112.09 and a twelve month high of $193.06.
Badger Meter Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, August 28th. This is a boost from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s dividend payout ratio (DPR) is presently 41.12%.
Insider Activity at Badger Meter
In other Badger Meter news, VP Edward Callahan purchased 751 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the completion of the acquisition, the vice president owned 1,937 shares of the company’s stock, valued at $261,979.25. The trade was a 63.32% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on BMI shares. Weiss Ratings upgraded shares of Badger Meter from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, July 28th. Seaport Research Partners set a $160.00 price target on shares of Badger Meter in a research report on Thursday, July 23rd. Barclays reiterated an “underweight” rating and set a $111.00 price target (down from $112.00) on shares of Badger Meter in a research note on Tuesday, October 13th. Northcoast Research raised Badger Meter from a “neutral” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Friday, September 18th. Finally, Stifel Nicolaus decreased their price objective on Badger Meter from $165.00 to $150.00 and set a “buy” rating for the company in a report on Monday. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $159.38.
View Our Latest Report on Badger Meter
About Badger Meter
Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.
The company’s offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.
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