Zurn Elkay Water Solutions Cor to Issue Quarterly Dividend of $0.11 (NYSE:ZWS)

Key Points

• Zurn Elkay Water Solutions (NYSE:ZWS) declared a quarterly dividend of $0.11 per share (annualized $0.44) payable June 5 to holders of record May 20, implying a yield of about 0.8%.
• The company beat Q1 expectations with $0.41 EPS versus $0.37 est. and $433M revenue (up 11.4% y/y), and analysts expect roughly $1.90 EPS next year with a dividend payout ratio comfortably below earnings.
• ZWS trades around a $8.7B market cap with a P/E near 42 and a 52-week range of $33.88–$53.76; analyst coverage is mixed (four Buy, four Hold) with a consensus price target of about $54.88.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) announced a quarterly dividend on Thursday, April 30th. Investors of record on Wednesday, May 20th will be given a dividend of 0.11 per share on Friday, June 5th. This represents a c) annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, May 20th.

Zurn Elkay Water Solutions Cor has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 3 years. Zurn Elkay Water Solutions Cor has a dividend payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zurn Elkay Water Solutions Cor to earn $1.90 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 23.2%.

Zurn Elkay Water Solutions Cor Trading Down 0.1%

Shares of NYSE ZWS opened at $51.93 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. Zurn Elkay Water Solutions Cor has a 52-week low of $33.88 and a 52-week high of $53.76. The firm has a 50 day moving average price of $47.85 and a two-hundred day moving average price of $47.61. The stock has a market cap of $8.67 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.01 and a beta of 1.07.

Zurn Elkay Water Solutions Cor (NYSE:ZWS - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The company reported $0.41 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a net margin of 12.26% and a return on equity of 17.40%. The company had revenue of $433.00 million for the quarter, compared to analyst estimates of $418.99 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor's revenue was up 11.4% compared to the same quarter last year. As a group, equities analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Weiss Ratings upgraded Zurn Elkay Water Solutions Cor from a "buy (b-)" rating to a "buy (b)" rating in a research report on Wednesday. Robert W. Baird lowered their price target on shares of Zurn Elkay Water Solutions Cor from $56.00 to $53.00 and set a "neutral" rating for the company in a report on Thursday, April 23rd. The Goldman Sachs Group reiterated a "neutral" rating and set a $50.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, February 5th. Oppenheimer reissued an "outperform" rating and issued a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Finally, UBS Group set a $56.00 price target on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Four research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $54.88.

Zurn Elkay Water Solutions Cor Company Profile

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.

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