Badger Meter (BMI) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Badger Meter (NYSE:BMI) announced its quarterly earnings data on Wednesday. The scientific and technical instruments company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05, reports. Badger Meter had a net margin of 6.96% and a return on equity of 12.51%. The business had revenue of $110.60 million for the quarter, compared to analyst estimates of $109.67 million. During the same period in the prior year, the business posted $0.27 earnings per share. Badger Meter’s revenue was up 10.6% compared to the same quarter last year.

Shares of NYSE BMI opened at $49.82 on Thursday. Badger Meter has a fifty-two week low of $41.00 and a fifty-two week high of $56.40. The company has a market capitalization of $1.54 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 4.11 and a beta of 0.71.

In other Badger Meter news, Director Todd J. Teske sold 12,000 shares of the stock in a transaction on Wednesday, July 25th. The shares were sold at an average price of $51.15, for a total value of $613,800.00. Following the sale, the director now directly owns 28,984 shares in the company, valued at $1,482,531.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Raymond G. Serdynski sold 6,000 shares of the stock in a transaction on Friday, July 27th. The stock was sold at an average price of $50.83, for a total transaction of $304,980.00. Following the completion of the sale, the vice president now owns 14,471 shares in the company, valued at $735,560.93. The disclosure for this sale can be found here. Insiders sold 46,362 shares of company stock worth $2,426,234 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Several brokerages recently weighed in on BMI. Zacks Investment Research upgraded shares of Badger Meter from a “hold” rating to a “buy” rating and set a $58.00 price objective on the stock in a report on Tuesday, October 9th. Stifel Nicolaus increased their price objective on shares of Badger Meter from $49.00 to $50.00 and gave the company a “hold” rating in a report on Monday, October 8th. Berenberg Bank began coverage on shares of Badger Meter in a report on Wednesday, October 3rd. They issued a “sell” rating and a $43.00 price objective on the stock. Finally, Robert W. Baird restated a “hold” rating and issued a $45.00 price objective on shares of Badger Meter in a report on Friday, July 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.00.

About Badger Meter

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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Earnings History for Badger Meter (NYSE:BMI)

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