Badger Meter, Inc. (NYSE:BMI) – Investment analysts at Boenning Scattergood upped their Q1 2019 earnings estimates for Badger Meter in a research report issued on Wednesday, October 17th. Boenning Scattergood analyst R. Connors now expects that the scientific and technical instruments company will post earnings per share of $0.39 for the quarter, up from their previous forecast of $0.34. Boenning Scattergood also issued estimates for Badger Meter’s Q2 2019 earnings at $0.47 EPS, Q3 2019 earnings at $0.45 EPS and Q4 2019 earnings at $0.39 EPS.
A number of other research firms have also commented on BMI. Zacks Investment Research lowered Badger Meter from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. Stifel Nicolaus raised their price target on Badger Meter from $41.00 to $49.00 and gave the stock a “hold” rating in a research report on Friday, July 20th. Robert W. Baird reaffirmed a “hold” rating and set a $45.00 price target on shares of Badger Meter in a research report on Friday, July 20th. Finally, Berenberg Bank initiated coverage on Badger Meter in a research report on Wednesday, October 3rd. They set a “sell” rating and a $43.00 price target on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.00.
NYSE:BMI opened at $49.10 on Friday. Badger Meter has a 1-year low of $41.00 and a 1-year high of $56.40. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 35.84, a P/E/G ratio of 3.83 and a beta of 0.70.
Badger Meter (NYSE:BMI) last released its earnings results on Wednesday, October 17th. The scientific and technical instruments company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Badger Meter had a return on equity of 14.21% and a net margin of 5.58%. The firm had revenue of $110.60 million for the quarter, compared to analyst estimates of $109.67 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis.
In other news, Director Todd J. Teske sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 25th. The stock was sold at an average price of $51.15, for a total transaction of $613,800.00. Following the sale, the director now owns 28,984 shares of the company’s stock, valued at $1,482,531.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gregory M. Gomez sold 6,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $54.82, for a total value of $328,920.00. Following the sale, the vice president now directly owns 17,016 shares in the company, valued at approximately $932,817.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,362 shares of company stock worth $2,426,234. 2.80% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TD Asset Management Inc. acquired a new stake in shares of Badger Meter during the second quarter worth about $746,000. First Trust Advisors LP grew its holdings in shares of Badger Meter by 2.4% during the second quarter. First Trust Advisors LP now owns 187,186 shares of the scientific and technical instruments company’s stock worth $8,367,000 after buying an additional 4,316 shares in the last quarter. US Bancorp DE grew its holdings in shares of Badger Meter by 1.6% during the second quarter. US Bancorp DE now owns 72,275 shares of the scientific and technical instruments company’s stock worth $3,231,000 after buying an additional 1,116 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Badger Meter by 5.6% during the second quarter. Legal & General Group Plc now owns 63,706 shares of the scientific and technical instruments company’s stock worth $2,837,000 after buying an additional 3,356 shares in the last quarter. Finally, Ellenbecker Investment Group bought a new position in shares of Badger Meter during the third quarter worth about $203,000. 85.72% of the stock is currently owned by institutional investors.
Badger Meter Company Profile
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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