Xylem (NYSE:XYL) Releases FY24 Earnings Guidance

Xylem (NYSE:XYL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.10-4.25 for the period, compared to the consensus estimate of $4.13. The company issued revenue guidance of ~$8.5 billion, compared to the consensus revenue estimate of $8.51 billion.

Xylem Stock Up 0.9 %

Shares of XYL stock traded up $1.22 during trading hours on Friday, reaching $137.21. 1,418,175 shares of the company’s stock were exchanged, compared to its average volume of 1,226,487. The stock’s 50 day moving average is $128.64 and its 200-day moving average is $115.36. The company has a market cap of $33.26 billion, a price-to-earnings ratio of 48.83, a P/E/G ratio of 2.69 and a beta of 1.08. The company has a current ratio of 1.67, a quick ratio of 1.30 and a debt-to-equity ratio of 0.19. Xylem has a fifty-two week low of $87.59 and a fifty-two week high of $138.46.

Xylem (NYSE:XYL) last issued its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.06. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2 billion. Xylem had a return on equity of 8.95% and a net margin of 8.34%. The business’s quarterly revenue was up 40.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.72 earnings per share. Analysts predict that Xylem will post 4.24 earnings per share for the current fiscal year.

Xylem Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 21st were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. This is an increase from Xylem’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 20th. Xylem’s dividend payout ratio is presently 51.25%.

Wall Street Analyst Weigh In

XYL has been the topic of several research reports. Oppenheimer upped their target price on Xylem from $142.00 to $147.00 and gave the company an outperform rating in a research report on Friday. Royal Bank of Canada upped their target price on Xylem from $157.00 to $162.00 and gave the company an outperform rating in a research report on Friday. Citigroup upped their target price on Xylem from $126.00 to $139.00 and gave the company a neutral rating in a research report on Monday, April 8th. Robert W. Baird upped their target price on Xylem from $151.00 to $155.00 and gave the company an outperform rating in a research report on Friday. Finally, Mizuho upped their price target on shares of Xylem from $110.00 to $135.00 and gave the company a neutral rating in a report on Friday. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $140.70.

Insider Transactions at Xylem

In other news, CAO Geri-Michelle Mcshane sold 1,000 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the sale, the chief accounting officer now directly owns 2,935 shares of the company’s stock, valued at approximately $360,682.15. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Geri-Michelle Mcshane sold 1,000 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the completion of the transaction, the chief accounting officer now owns 2,935 shares in the company, valued at approximately $360,682.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Franz Cerwinka sold 2,408 shares of the company’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $121.79, for a total transaction of $293,270.32. Following the transaction, the senior vice president now owns 11,750 shares of the company’s stock, valued at approximately $1,431,032.50. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Xylem Company Profile

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.