Xylem (NYSE:XYL) Announces Quarterly Earnings Results

Xylem (NYSE:XYL - Get Free Report) announced its quarterly earnings results on Thursday. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.06, RTT News reports. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2 billion. Xylem had a net margin of 8.27% and a return on equity of 9.65%. The company's revenue for the quarter was up 40.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.72 earnings per share. Xylem updated its FY24 guidance to $4.10-4.25 EPS.

Xylem Stock Up 3.8 %

Shares of XYL stock traded up $5.03 on Thursday, reaching $135.99. 2,782,034 shares of the company were exchanged, compared to its average volume of 1,184,620. The company has a market cap of $32.96 billion, a price-to-earnings ratio of 49.85, a PEG ratio of 2.60 and a beta of 1.08. The company has a 50-day moving average of $128.19 and a 200-day moving average of $114.74. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.30. Xylem has a one year low of $87.59 and a one year high of $137.18.

Xylem Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 21st were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 20th. This is a boost from Xylem's previous quarterly dividend of $0.33. Xylem's dividend payout ratio is 52.94%.

Analyst Ratings Changes

XYL has been the subject of a number of recent research reports. Raymond James upgraded Xylem from an "underperform" rating to a "market perform" rating in a report on Thursday, January 4th. BNP Paribas initiated coverage on Xylem in a report on Tuesday, March 12th. They issued an "outperform" rating and a $150.00 price objective for the company. Stifel Nicolaus increased their price objective on Xylem from $136.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, February 7th. Robert W. Baird increased their price objective on Xylem from $141.00 to $148.00 and gave the company an "outperform" rating in a report on Thursday, March 21st. Finally, Citigroup increased their price objective on Xylem from $126.00 to $139.00 and gave the company a "neutral" rating in a report on Monday, April 8th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $138.11.

Insider Transactions at Xylem

In related news, SVP Franz Cerwinka sold 2,408 shares of the firm's stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $121.79, for a total value of $293,270.32. Following the transaction, the senior vice president now owns 11,750 shares of the company's stock, valued at approximately $1,431,032.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Xylem news, CAO Geri-Michelle Mcshane sold 1,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total value of $122,890.00. Following the completion of the sale, the chief accounting officer now owns 2,935 shares in the company, valued at approximately $360,682.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Franz Cerwinka sold 2,408 shares of the firm's stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $121.79, for a total transaction of $293,270.32. Following the sale, the senior vice president now owns 11,750 shares of the company's stock, valued at approximately $1,431,032.50. The disclosure for this sale can be found here. Insiders own 0.27% of the company's stock.

About Xylem

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.