FY2016 EPS Estimates for Mueller Water Products Inc. (MWA) Raised by Analyst
Mueller Water Products Inc. (NYSE:MWA) – Equities research analysts at Northcoast Research raised their FY2016 earnings per share estimates for shares of Mueller Water Products in a research note issued to investors on Wednesday. Northcoast Research analyst A. Cohen now expects that the brokerage will post earnings per share of $0.50 for the year, up from their prior estimate of $0.46. Northcoast Research has a “Buy” rating on the stock. Northcoast Research also issued estimates for Mueller Water Products’ Q4 2016 earnings at $0.18 EPS, Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.15 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.20 EPS and FY2017 earnings at $0.69 EPS.
Mueller Water Products (NYSE:MWA) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.17 by $0.01. The firm earned $310 million during the quarter, compared to analyst estimates of $301 million. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS.
Other equities analysts have also recently issued research reports about the stock. Boenning Scattergood cut shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 13th. DA Davidson boosted their price objective on shares of Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Finally, Zacks Investment Research lowered shares of Mueller Water Products from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Mueller Water Products presently has a consensus rating of “Buy” and an average target price of $12.25.
Mueller Water Products (NYSE:MWA) traded down 0.56% during midday trading on Thursday, reaching $12.42. 642,155 shares of the company’s stock traded hands. The firm’s 50-day moving average is $12.21 and its 200 day moving average is $11.33. The firm has a market cap of $2.01 billion, a PE ratio of 33.57 and a beta of 1.33. Mueller Water Products has a 52-week low of $7.52 and a 52-week high of $13.50.
Large investors have recently bought and sold shares of the company. Silvercrest Asset Management Group LLC acquired a new stake in Mueller Water Products during the second quarter valued at approximately $32,727,000. Westfield Capital Management Co. LP raised its stake in Mueller Water Products by 617.6% in the second quarter. Westfield Capital Management Co. LP now owns 2,030,036 shares of the company’s stock valued at $23,183,000 after buying an additional 1,747,136 shares during the last quarter. Franklin Resources Inc. raised its stake in Mueller Water Products by 102.4% in the second quarter. Franklin Resources Inc. now owns 2,829,705 shares of the company’s stock valued at $32,315,000 after buying an additional 1,431,363 shares during the last quarter. RS Investment Management Co. LLC acquired a new stake in Mueller Water Products during the second quarter valued at approximately $15,590,000. Finally, 1832 Asset Management L.P. acquired a new stake in Mueller Water Products during the second quarter valued at approximately $24,998,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
About Mueller Water Products
Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.
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