Badger Meter Downgraded by Janney Montgomery Scott to Neutral (BMI)
Badger Meter (NYSE: BMI) was downgraded by equities researchers at Janney Montgomery Scott from a “buy” rating to a “neutral” rating in a report issued on Thursday. They currently have a $50.00 target price on the stock. The analysts noted that the move was a valuation call.
Shares of Badger Meter traded down 1.62% during mid-day trading on Thursday, hitting $51.49. Badger Meter has a 52 week low of $30.84 and a 52 week high of $52.54. The stock’s 50-day moving average is currently $50.17. The company has a market cap of $728.2 million and a P/E ratio of 26.84.
Badger Meter last announced its earnings results on Wednesday, February 6th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.44 by $0.05. The company had revenue of $74.30 million for the quarter, compared to the consensus estimate of $75.55 million. During the same quarter last year, the company posted $0.08 earnings per share. Badger Meter’s revenue was up 22.4% compared to the same quarter last year. Analysts expect that Badger Meter will post $2.31 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BMI. Analysts at Canaccord Genuity raised their price target on shares of Badger Meter from $40.00 to $50.00 in a research note to investors on Tuesday, February 5th. They now have a “hold” rating on the stock. Analysts at Zacks upgraded shares of Badger Meter from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, December 14th. They now have a $55.00 price target on the stock.
One investment analyst has rated the stock with a buy rating, and four have issued a hold rating to the company’s stock. The stock currently has an average rating of “hold” and a consensus target price of $48.20.
The company also recently declared a quarterly dividend, which is scheduled for Friday, March 15th. Stockholders of record on Thursday, February 28th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, February 26th.
Badger Meter, Inc. is a manufacturer and marketer of products incorporating liquid flow measurement and control technologies serving markets globally.
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