Xylem (NYSE:XYL) Releases FY24 Earnings Guidance

Xylem (NYSE:XYL - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.10-4.25 for the period, compared to the consensus estimate of $4.13. The company issued revenue guidance of ~$8.5 billion, compared to the consensus revenue estimate of $8.51 billion.

Xylem Stock Up 3.8 %

Shares of Xylem stock traded up $5.03 during trading hours on Thursday, hitting $135.99. 2,782,034 shares of the company's stock traded hands, compared to its average volume of 1,184,620. The stock has a 50 day simple moving average of $128.19 and a 200-day simple moving average of $114.74. The company has a quick ratio of 1.30, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. The company has a market cap of $32.96 billion, a PE ratio of 49.85, a PEG ratio of 2.60 and a beta of 1.08. Xylem has a twelve month low of $87.59 and a twelve month high of $137.18.

Xylem (NYSE:XYL - Get Free Report) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2 billion. Xylem had a return on equity of 9.65% and a net margin of 8.27%. The company's revenue was up 40.4% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. Equities research analysts anticipate that Xylem will post 4.13 earnings per share for the current fiscal year.

Xylem Increases Dividend

The business also recently declared 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 is a boost from Xylem's previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 20th. This represents a $1.44 annualized dividend and a dividend yield of 1.06%. Xylem's dividend payout ratio (DPR) is presently 52.94%.

Analyst Ratings Changes

XYL has been the topic of several research analyst reports. Stifel Nicolaus increased their price target on shares of Xylem from $136.00 to $150.00 and gave the stock a buy rating in a research report on Wednesday, February 7th. Oppenheimer increased their price target on shares of Xylem from $133.00 to $142.00 and gave the stock an outperform rating in a research report on Thursday, April 18th. Robert W. Baird increased their price target on shares of Xylem from $141.00 to $148.00 and gave the stock an outperform rating in a research report on Thursday, March 21st. Citigroup increased their price target on shares of Xylem from $126.00 to $139.00 and gave the stock a neutral rating in a research report on Monday, April 8th. Finally, Royal Bank of Canada raised their target price on shares of Xylem from $140.00 to $145.00 and gave the stock an outperform rating in a report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $138.11.

Insider Activity at Xylem

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