Northcoast Research Comments on Mueller Water Products Inc.’s FY2018 Earnings (MWA)
Mueller Water Products Inc. (NYSE:MWA) – Analysts at Northcoast Research issued their FY2018 earnings per share estimates for shares of Mueller Water Products in a research report issued to clients and investors on Wednesday. Northcoast Research analyst A. Cohen forecasts that the firm will post earnings per share of $0.80 for the year. Northcoast Research has a “Buy” rating on the stock.
Other research analysts have also recently issued reports about the stock. Boenning Scattergood cut shares of Mueller Water Products from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 13th. DA Davidson increased their target price on shares of Mueller Water Products from $11.00 to $12.00 and gave the stock a “neutral” rating in a report on Friday, August 5th. Finally, Zacks Investment Research cut shares of Mueller Water Products from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.25.
Shares of Mueller Water Products (NYSE:MWA) traded down 0.32% during mid-day trading on Friday, reaching $12.32. 1,163,094 shares of the company’s stock were exchanged. The company has a market capitalization of $1.99 billion, a PE ratio of 33.30 and a beta of 1.33. The company’s 50-day moving average price is $12.21 and its 200-day moving average price is $11.36. Mueller Water Products has a one year low of $7.52 and a one year high of $13.50.
Mueller Water Products (NYSE:MWA) last announced its earnings results on Wednesday, August 3rd. The company reported $0.18 EPS for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. The business earned $310 million during the quarter, compared to analysts’ expectations of $301 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis.
Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth Equity Services Inc purchased a new stake in Mueller Water Products during the second quarter worth $141,000. AHL Partners LLP purchased a new stake in Mueller Water Products during the second quarter worth $142,000. Boothbay Fund Management LLC purchased a new stake in Mueller Water Products during the first quarter worth $143,000. Wedbush Securities Inc. boosted its stake in Mueller Water Products by 17.9% in the second quarter. Wedbush Securities Inc. now owns 12,654 shares of the company’s stock worth $145,000 after buying an additional 1,921 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in Mueller Water Products during the second quarter worth $154,000. Institutional investors and hedge funds own 85.07% of the company’s stock.
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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