Zurn Elkay Water Solutions Cor (NYSE:ZWS) Announces Earnings Results, Beats Estimates By $0.02 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) announced its quarterly earnings data on Tuesday. The company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02, FiscalAI reports. Zurn Elkay Water Solutions Cor had a net margin of 15.45% and a return on equity of 18.01%. The company had revenue of $495.10 million for the quarter, compared to the consensus estimate of $493.36 million. During the same period in the prior year, the firm posted $0.43 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year.

Zurn Elkay Water Solutions Cor Stock Down 11.9%

Zurn Elkay Water Solutions Cor stock opened at $43.31 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.05 and a quick ratio of 2.13. Zurn Elkay Water Solutions Cor has a 1-year low of $42.89 and a 1-year high of $55.00. The stock has a market cap of $7.18 billion, a PE ratio of 26.73, a P/E/G ratio of 1.77 and a beta of 1.07. The stock’s fifty day moving average is $47.28 and its two-hundred day moving average is $48.28.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Stockholders of record on Friday, November 20th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. Zurn Elkay Water Solutions Cor’s dividend payout ratio (DPR) is 32.10%.

Insider Buying and Selling at Zurn Elkay Water Solutions Cor

In related news, Director Jacques Butler purchased 2,016 shares of Zurn Elkay Water Solutions Cor stock in a transaction that occurred on Wednesday, August 19th. The stock was purchased at an average cost of $49.60 per share, with a total value of $99,993.60. Following the completion of the transaction, the director directly owned 37,487 shares in the company, valued at approximately $1,859,355.20. The trade was a 5.68% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ZWS shares. Oppenheimer raised their price target on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, September 9th. Zacks Research downgraded shares of Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 20th. Royal Bank Of Canada lowered their price objective on Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. Stifel Nicolaus boosted their price target on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Zurn Elkay Water Solutions Cor currently has an average rating of “Moderate Buy” and a consensus price target of $56.44.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.