Badger Meter (NYSE:BMI) Releases Earnings Results, Beats Expectations By $0.01 EPS

Badger Meter (NYSE:BMI) released its quarterly earnings data on Thursday. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.23 by $0.01, Briefing.com reports. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. During the same period in the prior year, the firm posted $1.19 earnings per share. The business’s 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 business’s 50 day moving average is $129.85 and its 200 day moving average is $132.38. The stock has a market cap of $4.14 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 3.18 and a beta of 0.64. Badger Meter has a 52-week low of $112.09 and a 52-week high of $193.06.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were paid a $0.44 dividend. The ex-dividend date was Friday, August 28th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. Badger Meter’s payout ratio is currently 41.12%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays reiterated an “underweight” rating and set a $111.00 target price (down from $112.00) on shares of Badger Meter in a research report on Tuesday, October 13th. Royal Bank Of Canada decreased their price objective on Badger Meter from $169.00 to $162.00 and set an “outperform” rating on the stock in a report on Thursday, July 23rd. Zacks Research upgraded shares of Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Northcoast Research upgraded Badger Meter from a “neutral” rating to a “buy” rating and set a $148.00 price objective for the company in a research note on Friday, September 18th. Finally, Wall Street Zen downgraded Badger Meter from a “hold” rating to a “sell” rating in a report on Saturday, October 17th. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $159.38.

Insider Buying and Selling at Badger Meter

In other Badger Meter news, VP Edward Callahan purchased 751 shares of Badger Meter stock in a transaction dated Thursday, July 30th. The stock was acquired at an average price of $135.25 per share, for a total transaction of $101,572.75. Following the acquisition, the vice president owned 1,937 shares in the company, valued at $261,979.25. This trade represents a 63.32% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by insiders.

Badger Meter Company Profile

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.