$103.46 Million in Sales Expected for Badger Meter, Inc. (BMI) This Quarter
Analysts expect Badger Meter, Inc. (NYSE:BMI) to announce $103.46 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Badger Meter’s earnings. The lowest sales estimate is $100.12 million and the highest is $106.79 million. Badger Meter reported sales of $96.27 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The company is expected to issue its next earnings report on Monday, October 16th.
On average, analysts expect that Badger Meter will report full year sales of $103.46 million for the current financial year, with estimates ranging from $404.59 million to $411.80 million. For the next financial year, analysts expect that the business will post sales of $432.77 million per share, with estimates ranging from $420.77 million to $440.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Badger Meter.
Badger Meter (NYSE:BMI) last announced its earnings results on Thursday, July 20th. The scientific and technical instruments company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Badger Meter had a net margin of 8.67% and a return on equity of 13.19%. The business had revenue of $104.17 million for the quarter, compared to analyst estimates of $108.02 million. During the same period last year, the firm posted $0.65 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year.
A number of research analysts recently commented on BMI shares. BidaskClub downgraded Badger Meter from a “buy” rating to a “hold” rating in a research note on Thursday, June 15th. Zacks Investment Research upgraded Badger Meter from a “sell” rating to a “hold” rating in a research note on Wednesday, June 21st. Sidoti restated a “buy” rating and set a $52.00 price objective (up from $50.00) on shares of Badger Meter in a research note on Monday, June 19th. Boenning Scattergood restated a “hold” rating on shares of Badger Meter in a research note on Friday, July 21st. Finally, Canaccord Genuity restated a “hold” rating and set a $37.00 price objective on shares of Badger Meter in a research note on Wednesday, May 24th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Badger Meter currently has an average rating of “Hold” and an average price target of $42.00.
In related news, Chairman Richard A. Meeusen sold 10,699 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.96, for a total transaction of $438,231.04. Following the completion of the transaction, the chairman now directly owns 178,720 shares in the company, valued at approximately $7,320,371.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Beverly L. P. Smiley sold 19,610 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $45.14, for a total value of $885,195.40. Following the transaction, the vice president now owns 68,926 shares of the company’s stock, valued at $3,111,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,776 shares of company stock valued at $3,858,414. 4.50% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. State of Alaska Department of Revenue increased its position in shares of Badger Meter by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 3,210 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 60 shares during the last quarter. First Personal Financial Services acquired a new position in shares of Badger Meter during the second quarter worth about $119,000. Acrospire Investment Management LLC acquired a new position in shares of Badger Meter during the first quarter worth about $135,000. SG Americas Securities LLC acquired a new position in shares of Badger Meter during the second quarter worth about $140,000. Finally, Clean Yield Group acquired a new position in shares of Badger Meter during the first quarter worth about $153,000. Hedge funds and other institutional investors own 84.36% of the company’s stock.
Shares of Badger Meter (BMI) opened at 43.60 on Friday. The firm has a market capitalization of $1.27 billion, a P/E ratio of 36.95 and a beta of 0.56. The company’s 50 day moving average price is $42.18 and its 200 day moving average price is $38.79. Badger Meter has a one year low of $29.30 and a one year high of $46.85.
About Badger Meter
Badger Meter, Inc is a manufacturer and marketer of products incorporating flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers around the world. The Company’s products measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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