Badger Meter (NYSE:BMI) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Key Points

• Badger Meter reported a quarterly earnings per share (EPS) of $1.19, exceeding estimates by $0.08 and showing a 13.1% revenue increase year-over-year.
• The company announced a dividend increase to $0.40 per share, up from $0.34, translating to an annualized dividend yield of 0.9% and a payout ratio of 34.86%.
• Recent analyst ratings show a mix of upgrades and downgrades, with an average rating currently at "Hold" and a consensus target price of $232.00 for the stock.

Badger Meter (NYSE:BMI - Get Free Report) announced its earnings results on Tuesday. The scientific and technical instruments company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.08, Briefing.com reports. Badger Meter had a return on equity of 21.57% and a net margin of 15.53%.During the same quarter in the prior year, the business posted $1.08 EPS. The company's revenue for the quarter was up 13.1% compared to the same quarter last year.

Badger Meter Stock Up 4.2%

Shares of BMI opened at $187.53 on Tuesday. Badger Meter has a 52 week low of $162.17 and a 52 week high of $256.08. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 40.86, a PEG ratio of 3.18 and a beta of 0.90. The stock's 50-day moving average price is $181.15 and its 200-day moving average price is $208.85.

Badger Meter Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 5th. Stockholders of record on Friday, August 22nd were paid a $0.40 dividend. The ex-dividend date was Friday, August 22nd. This is a positive change from Badger Meter's previous quarterly dividend of $0.34. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Badger Meter's dividend payout ratio (DPR) is currently 34.86%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BMI shares. Weiss Ratings downgraded Badger Meter from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, October 8th. Stifel Nicolaus set a $208.00 target price on Badger Meter and gave the stock a "hold" rating in a research note on Monday. Royal Bank Of Canada dropped their target price on Badger Meter from $284.00 to $264.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 23rd. JPMorgan Chase & Co. started coverage on Badger Meter in a research note on Tuesday, September 9th. They set an "overweight" rating and a $230.00 target price on the stock. Finally, Zacks Research upgraded Badger Meter from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Three investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Badger Meter presently has an average rating of "Hold" and a consensus target price of $232.00.

Hedge Funds Weigh In On Badger Meter

A number of large investors have recently bought and sold shares of BMI. Brighton Jones LLC acquired a new position in Badger Meter in the 4th quarter worth about $227,000. NewEdge Advisors LLC raised its holdings in Badger Meter by 328.0% in the 1st quarter. NewEdge Advisors LLC now owns 3,766 shares of the scientific and technical instruments company's stock worth $717,000 after purchasing an additional 2,886 shares during the period. Cetera Investment Advisers raised its holdings in Badger Meter by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 2,334 shares of the scientific and technical instruments company's stock worth $572,000 after purchasing an additional 223 shares during the period. M&T Bank Corp acquired a new position in Badger Meter in the 2nd quarter worth about $200,000. Finally, California Public Employees Retirement System raised its holdings in Badger Meter by 11.2% in the 2nd quarter. California Public Employees Retirement System now owns 50,225 shares of the scientific and technical instruments company's stock worth $12,303,000 after purchasing an additional 5,041 shares during the period. Institutional investors and hedge funds own 89.01% of the company's stock.

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.

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