Badger Meter, Inc. (NYSE:BMI) Plans Quarterly Dividend of $0.40

Key Points

• Badger Meter, Inc. has increased its quarterly dividend to $0.40 per share, representing a 17.6% increase from the previous $0.34 dividend, with the ex-dividend date set for August 22nd.
• The company reported a net margin of 15.53% and revenue growth of 9.9% year-over-year, with earnings per share for the latest quarter at $1.17, missing estimates by $0.02.
• Analysts have set a target price range for Badger Meter between $219.00 and $240.00, with an overall average rating of "Hold."

Badger Meter, Inc. (NYSE:BMI - Get Free Report) announced a quarterly dividend on Monday, August 11th, Wall Street Journal reports. Stockholders of record on Friday, August 22nd will be paid a dividend of 0.40 per share by the scientific and technical instruments company on Friday, September 5th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, August 22nd. This is a 17.6% increase from Badger Meter's previous quarterly dividend of $0.34.

Badger Meter has a payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Badger Meter to earn $5.38 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 25.3%.

Badger Meter Stock Down 2.2%

NYSE BMI traded down $4.25 during trading hours on Friday, hitting $186.83. The company had a trading volume of 304,901 shares, compared to its average volume of 521,146. Badger Meter has a fifty-two week low of $162.17 and a fifty-two week high of $256.08. The business has a fifty day simple moving average of $222.84 and a 200-day simple moving average of $216.82. The firm has a market cap of $5.51 billion, a P/E ratio of 40.70, a price-to-earnings-growth ratio of 3.36 and a beta of 0.84.

Badger Meter (NYSE:BMI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The scientific and technical instruments company reported $1.17 earnings per share for the quarter, missing analysts' consensus estimates of $1.19 by ($0.02). Badger Meter had a return on equity of 21.57% and a net margin of 15.53%. The firm had revenue of $238.10 million during the quarter, compared to analyst estimates of $235.38 million. During the same period last year, the business earned $1.12 EPS. The firm's revenue was up 9.9% on a year-over-year basis. Equities analysts forecast that Badger Meter will post 4.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BMI has been the topic of several analyst reports. Raymond James Financial initiated coverage on Badger Meter in a research report on Tuesday, June 3rd. They issued a "market perform" rating on the stock. Robert W. Baird raised their price target on Badger Meter from $216.00 to $219.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Royal Bank Of Canada lowered their price target on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a report on Wednesday, July 23rd. Stifel Nicolaus set a $224.00 price target on Badger Meter in a report on Wednesday, July 23rd. Finally, Argus set a $240.00 target price on shares of Badger Meter in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $238.40.

About Badger Meter

Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions worldwide. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities market. The company also provides flow instrumentation products, including meters, valves, and other sensing instruments to measure and control fluids going through a pipe or pipeline, including water, air, steam, and other liquids and gases to original equipment manufacturers as the primary flow measurement device within a product or system, as well as through manufacturers' representatives.