Zurn Elkay Water Solutions Cor (NYSE:ZWS) Releases Earnings Results, Beats Estimates By $0.02 EPS

Zurn Elkay Water Solutions Cor (NYSE:ZWS) issued its earnings results on Tuesday. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02, FiscalAI reports. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. The business had revenue of $495.10 million during the quarter, compared to the consensus estimate of $493.36 million.

Zurn Elkay Water Solutions Cor Trading Down 0.2%

NYSE ZWS traded down $0.12 during mid-day trading on Tuesday, reaching $49.20. 1,315,949 shares of the stock were exchanged, compared to its average volume of 995,228. Zurn Elkay Water Solutions Cor has a 1-year low of $43.06 and a 1-year high of $55.00. The business’s fifty day simple moving average is $47.45 and its 200 day simple moving average is $48.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. The stock has a market capitalization of $8.16 billion, a PE ratio of 30.37, a PEG ratio of 1.77 and a beta of 1.07.

Zurn Elkay Water Solutions Cor Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 7th. Investors of record on Friday, November 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, November 20th. This is a positive change from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. Zurn Elkay Water Solutions Cor’s payout ratio is currently 27.16%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and issued a $55.00 price objective on shares of Zurn Elkay Water Solutions Cor in a research report on Wednesday, July 29th. Oppenheimer boosted their target price on shares of Zurn Elkay Water Solutions Cor from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Zurn Elkay Water Solutions Cor in a research note on Thursday. Barclays raised their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada decreased their price objective on shares of Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating on the stock in a report on Wednesday, October 14th. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $57.00.

Insider Transactions at Zurn Elkay Water Solutions Cor

In other news, Director Jacques Butler purchased 2,016 shares of the company’s stock in a transaction on Wednesday, August 19th. The stock was bought at an average cost of $49.60 per share, for a total transaction of $99,993.60. Following the completion of the purchase, the director directly owned 37,487 shares of the company’s stock, valued at $1,859,355.20. The trade was a 5.68% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.40% of the company’s stock.

About Zurn Elkay Water Solutions Cor

Zurn Elkay Water Solutions Corporation (NYSE: ZWS) is a manufacturer of products and systems used to manage, conserve and protect water in commercial, institutional, industrial and residential buildings. The company provides plumbing and water-management solutions designed to support water distribution, drainage, safety, hygiene and efficiency.

Its product portfolio includes commercial faucets, flush valves, fixtures, drains, plumbing specialties, backflow-prevention devices, water coolers, bottle-filling stations, water filtration systems and related accessories.