Analysts expect Badger Meter, Inc. (NYSE:BMI) to announce $105.21 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Badger Meter’s earnings, with estimates ranging from $104.20 million to $106.32 million. Badger Meter reported sales of $96.65 million during the same quarter last year, which indicates a positive year over year growth rate of 8.9%. The firm is scheduled to issue its next quarterly earnings results on Monday, February 4th.
According to Zacks, analysts expect that Badger Meter will report full-year sales of $434.52 million for the current financial year, with estimates ranging from $433.50 million to $435.63 million. For the next fiscal year, analysts forecast that the business will report sales of $460.50 million, with estimates ranging from $459.70 million to $461.77 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Badger Meter.
Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.05. The business had revenue of $110.60 million for the quarter, compared to analysts’ expectations of $109.67 million. Badger Meter had a net margin of 5.58% and a return on equity of 14.21%. The business’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.27 earnings per share.
BMI has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a report on Tuesday, October 9th. Robert W. Baird reiterated a “hold” rating and set a $45.00 price target on shares of Badger Meter in a report on Friday, July 20th. Stifel Nicolaus increased their price target on shares of Badger Meter from $41.00 to $49.00 and gave the company a “hold” rating in a report on Friday, July 20th. Finally, Berenberg Bank initiated coverage on shares of Badger Meter in a report on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Badger Meter presently has an average rating of “Hold” and an average target price of $48.00.
In related news, VP Fred J. Begale sold 2,362 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $55.01, for a total value of $129,933.62. Following the sale, the vice president now owns 7,269 shares in the company, valued at $399,867.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gregory M. Gomez sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $54.82, for a total transaction of $328,920.00. Following the completion of the sale, the vice president now owns 17,016 shares in the company, valued at approximately $932,817.12. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Ellenbecker Investment Group purchased a new stake in Badger Meter in the third quarter worth approximately $203,000. Amalgamated Bank purchased a new stake in Badger Meter in the second quarter worth approximately $209,000. Vident Investment Advisory LLC purchased a new stake in Badger Meter in the second quarter worth approximately $212,000. Carlson Capital Management purchased a new stake in Badger Meter in the third quarter worth approximately $212,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in Badger Meter in the first quarter worth approximately $224,000. Institutional investors own 85.79% of the company’s stock.
NYSE:BMI opened at $48.25 on Wednesday. Badger Meter has a 52 week low of $41.00 and a 52 week high of $56.40. The company has a market cap of $1.40 billion, a PE ratio of 40.55, a PEG ratio of 3.56 and a beta of 0.71.
About Badger Meter
Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.
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