Badger Meter (NYSE:BMI) Announces Quarterly Earnings Results

Badger Meter (NYSE:BMI) issued its quarterly earnings data on Thursday. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.01, Briefing.com reports. Badger Meter had a net margin of 14.27% and a return on equity of 18.03%. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Badger Meter’s revenue for the quarter was up .1% on a year-over-year basis.

Badger Meter Price Performance

Badger Meter stock traded up $13.32 during mid-day trading on Thursday, reaching $145.18. 105,957 shares of the company were exchanged, compared to its average volume of 472,698. The company has a fifty day simple moving average of $129.85 and a 200-day simple moving average of $132.38. Badger Meter has a 12 month low of $112.09 and a 12 month high of $192.28. The firm has a market cap of $4.21 billion, a PE ratio of 33.69, a PEG ratio of 3.18 and a beta of 0.64.

Badger Meter Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were given a dividend of $0.44 per share. This is an increase from Badger Meter’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 28th. Badger Meter’s dividend payout ratio (DPR) is currently 41.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on BMI shares. Zacks Research raised Badger Meter from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. decreased their price objective on Badger Meter from $172.00 to $170.00 and set an “overweight” rating on the stock in a report on Thursday, July 23rd. Barclays reiterated an “underweight” rating and set a $111.00 price objective (down from $112.00) on shares of Badger Meter in a research report on Tuesday, October 13th. Northcoast Research raised Badger Meter from a “neutral” rating to a “buy” rating and set a $148.00 target price for the company in a report on Friday, September 18th. Finally, Stifel Nicolaus reduced their target price on shares of Badger Meter from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Badger Meter has a consensus rating of “Hold” and an average target price of $159.38.

Insider Buying and Selling at Badger Meter

In related news, VP Edward Callahan bought 751 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was purchased at an average cost of $135.25 per share, for a total transaction of $101,572.75. Following the transaction, the vice president owned 1,937 shares in the company, valued at $261,979.25. The trade was a 63.32% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

About Badger Meter

Badger Meter, Inc is a water technology company that develops and manufactures flow measurement, control and communications solutions. Its products are used to measure and manage water across municipal, commercial and industrial applications, helping customers improve operational efficiency, monitor usage and support water conservation.

The company’s offerings include mechanical, ultrasonic and electromagnetic flow meters; valves and related flow-control equipment; and smart water technologies.