Wall Street brokerages expect Mueller Water Products, Inc. (NYSE:MWA) to post $240.69 million in sales for the current quarter, according to Zacks. Six analysts have made estimates for Mueller Water Products’ earnings, with the lowest sales estimate coming in at $238.00 million and the highest estimate coming in at $245.00 million. Mueller Water Products reported sales of $226.90 million in the same quarter last year, which indicates a positive year-over-year growth rate of 6.1%. The business is scheduled to issue its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Mueller Water Products will report full year sales of $903.18 million for the current year, with estimates ranging from $899.95 million to $908.00 million. For the next year, analysts forecast that the company will report sales of $954.12 million per share, with estimates ranging from $929.00 million to $984.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Mueller Water Products.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Monday, August 6th. The industrial products company reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. Mueller Water Products had a net margin of 11.24% and a return on equity of 15.67%. The company had revenue of $250.20 million for the quarter, compared to analyst estimates of $246.01 million. During the same quarter in the prior year, the business posted $0.16 EPS. The firm’s revenue was up 7.8% compared to the same quarter last year.
MWA has been the subject of several analyst reports. Zacks Investment Research lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Thursday. Seaport Global Securities lowered shares of Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $15.00 to $12.50 in a research note on Wednesday. DA Davidson reiterated a “neutral” rating on shares of Mueller Water Products in a research note on Friday, July 20th. Oppenheimer reiterated a “buy” rating and issued a $14.00 price objective on shares of Mueller Water Products in a research note on Monday, August 6th. Finally, ValuEngine upgraded shares of Mueller Water Products from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $13.44.
Several institutional investors have recently added to or reduced their stakes in MWA. Fortaleza Asset Management Inc. bought a new stake in Mueller Water Products in the 2nd quarter worth $128,000. First Republic Investment Management Inc. bought a new stake in Mueller Water Products during the first quarter valued at $126,000. Highbridge Capital Management LLC bought a new stake in Mueller Water Products during the first quarter valued at $133,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Mueller Water Products during the 2nd quarter worth about $157,000. Finally, Point72 Asia Hong Kong Ltd boosted its position in shares of Mueller Water Products by 1,456.9% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 15,631 shares of the industrial products company’s stock worth $170,000 after purchasing an additional 14,627 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
Shares of MWA traded up $0.04 on Tuesday, reaching $11.70. The company’s stock had a trading volume of 607,618 shares, compared to its average volume of 731,391. The company has a debt-to-equity ratio of 0.83, a current ratio of 5.13 and a quick ratio of 4.38. Mueller Water Products has a twelve month low of $9.59 and a twelve month high of $12.99. The firm has a market capitalization of $1.84 billion, a PE ratio of 26.59, a P/E/G ratio of 1.44 and a beta of 1.11.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Stockholders of record on Friday, August 10th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, August 9th. Mueller Water Products’s dividend payout ratio is currently 45.45%.
Mueller Water Products Company Profile
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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