Badger Meter, Inc. (NYSE:BMI) has received an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $55.25.
Several research firms have weighed in on BMI. Zacks Investment Research lowered shares of Badger Meter from a “hold” rating to a “sell” rating and set a $60.00 target price for the company. in a research note on Tuesday, July 16th. Stifel Nicolaus lowered their target price on shares of Badger Meter from $54.00 to $49.00 and set a “hold” rating for the company in a research note on Friday, July 19th. Robert W. Baird set a $48.00 target price on shares of Badger Meter and gave the company a “hold” rating in a research note on Friday, July 19th. Finally, Maxim Group set a $64.00 target price on shares of Badger Meter and gave the company a “buy” rating in a research note on Friday, July 19th.
BMI traded down $1.02 during trading on Friday, hitting $54.36. The company had a trading volume of 7,645 shares, compared to its average volume of 162,832. The company has a market cap of $1.61 billion, a PE ratio of 35.21 and a beta of 0.80. The business has a 50-day moving average of $52.65 and a 200-day moving average of $55.25. Badger Meter has a 1-year low of $46.69 and a 1-year high of $61.57.
Badger Meter (NYSE:BMI) last released its earnings results on Thursday, July 18th. The scientific and technical instruments company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.08). Badger Meter had a net margin of 8.57% and a return on equity of 15.45%. The business had revenue of $103.54 million for the quarter, compared to the consensus estimate of $117.11 million. During the same quarter in the previous year, the firm earned $0.42 EPS. The firm’s revenue for the quarter was down 8.9% on a year-over-year basis. Sell-side analysts predict that Badger Meter will post 1.55 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.17 per share. This is a positive change from Badger Meter’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $0.68 annualized dividend and a yield of 1.25%. Badger Meter’s payout ratio is presently 44.16%.
A number of hedge funds have recently added to or reduced their stakes in BMI. Advisory Services Network LLC grew its position in shares of Badger Meter by 182.8% during the first quarter. Advisory Services Network LLC now owns 478 shares of the scientific and technical instruments company’s stock worth $26,000 after acquiring an additional 309 shares during the last quarter. Stonebridge Capital Advisors LLC bought a new position in shares of Badger Meter during the second quarter worth about $42,000. Krane Funds Advisors LLC bought a new position in shares of Badger Meter during the second quarter worth about $62,000. Tortoise Capital Advisors L.L.C. grew its position in shares of Badger Meter by 2,426.4% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 1,339 shares of the scientific and technical instruments company’s stock worth $80,000 after acquiring an additional 1,286 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Badger Meter by 761.8% during the second quarter. Tower Research Capital LLC TRC now owns 1,646 shares of the scientific and technical instruments company’s stock worth $98,000 after acquiring an additional 1,455 shares during the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.
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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