Badger Meter, Inc. (NYSE:BMI – Free Report) – Research analysts at Zacks Research upped their FY2023 earnings estimates for Badger Meter in a report released on Thursday, November 2nd. Zacks Research analyst H. Sadavartia now forecasts that the scientific and technical instruments company will earn $2.99 per share for the year, up from their prior estimate of $2.78. The consensus estimate for Badger Meter’s current full-year earnings is $3.00 per share. Zacks Research also issued estimates for Badger Meter’s Q4 2023 earnings at $0.69 EPS, Q1 2024 earnings at $0.72 EPS, Q2 2024 earnings at $0.79 EPS, Q3 2024 earnings at $0.82 EPS, Q4 2024 earnings at $0.81 EPS, FY2024 earnings at $3.13 EPS, Q1 2025 earnings at $0.82 EPS, Q2 2025 earnings at $0.88 EPS, Q3 2025 earnings at $0.92 EPS and FY2025 earnings at $3.51 EPS.
A number of other equities research analysts have also recently commented on BMI. Robert W. Baird increased their target price on shares of Badger Meter from $125.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Maxim Group raised their price objective on shares of Badger Meter from $152.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, July 21st. Northcoast Research cut shares of Badger Meter from a “neutral” rating to a “sell” rating and set a $120.00 price objective for the company. in a research report on Friday, September 29th. Stifel Nicolaus restated a “hold” rating and set a $142.00 price objective on shares of Badger Meter in a research report on Tuesday, September 12th. Finally, StockNews.com upgraded shares of Badger Meter from a “hold” rating to a “buy” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Badger Meter currently has a consensus rating of “Hold” and a consensus target price of $146.67.
Badger Meter Stock Up 0.4 %
Shares of NYSE BMI opened at $142.94 on Friday. The firm has a 50-day simple moving average of $149.53 and a 200-day simple moving average of $148.41. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 49.29, a price-to-earnings-growth ratio of 2.27 and a beta of 0.90. Badger Meter has a 52 week low of $103.93 and a 52 week high of $170.86.
Badger Meter (NYSE:BMI – Get Free Report) last posted its quarterly earnings data on Thursday, October 19th. The scientific and technical instruments company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.07. The business had revenue of $186.20 million for the quarter, compared to the consensus estimate of $179.06 million. Badger Meter had a net margin of 12.78% and a return on equity of 18.28%. The company’s revenue was up 25.8% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share.
Badger Meter Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 25th were given a $0.27 dividend. This is an increase from Badger Meter’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, August 24th. This represents a $1.08 annualized dividend and a yield of 0.76%. Badger Meter’s dividend payout ratio is 37.24%.
Hedge Funds Weigh In On Badger Meter
A number of large investors have recently bought and sold shares of the company. Advisor Partners II LLC raised its position in Badger Meter by 3.0% during the 1st quarter. Advisor Partners II LLC now owns 3,070 shares of the scientific and technical instruments company’s stock worth $374,000 after buying an additional 90 shares during the last quarter. Close Asset Management Ltd increased its holdings in shares of Badger Meter by 13.4% in the 3rd quarter. Close Asset Management Ltd now owns 795 shares of the scientific and technical instruments company’s stock valued at $114,000 after purchasing an additional 94 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Badger Meter by 1.3% in the 1st quarter. HighTower Advisors LLC now owns 7,262 shares of the scientific and technical instruments company’s stock valued at $889,000 after purchasing an additional 94 shares in the last quarter. Metropolitan Life Insurance Co NY increased its holdings in shares of Badger Meter by 5.6% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,798 shares of the scientific and technical instruments company’s stock valued at $196,000 after purchasing an additional 95 shares in the last quarter. Finally, Flputnam Investment Management Co. increased its holdings in shares of Badger Meter by 1.9% in the 1st quarter. Flputnam Investment Management Co. now owns 5,271 shares of the scientific and technical instruments company’s stock valued at $642,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 86.81% of the company’s stock.
About Badger Meter
Badger Meter, Inc manufactures and markets flow measurement, quality, control, and communication solutions in the United States, Asia, Canada, Europe, Mexico, the Middle East, and internationally. It offers mechanical or static water meters, and related radio and software technologies and services to municipal water utilities.
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