Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) declared a quarterly dividend on Thursday, October 22nd. Investors of record on Friday, November 20th will be given a dividend of $0.13 per share on Monday, December 7th. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Friday, November 20th. This is a 18.2% increase from Zurn Elkay Water Solutions Cor’s previous quarterly dividend of $0.11.
Zurn Elkay Water Solutions Cor has a payout ratio of 29.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Zurn Elkay Water Solutions Cor to earn $2.03 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 21.7%.
Zurn Elkay Water Solutions Cor Stock Up 0.4%
Shares of ZWS opened at $48.56 on Friday. The company’s 50-day simple moving average is $47.44 and its 200-day simple moving average is $48.50. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.13 and a current ratio of 3.05. Zurn Elkay Water Solutions Cor has a 1 year low of $43.06 and a 1 year high of $55.00. The stock has a market capitalization of $8.05 billion, a PE ratio of 29.98, a P/E/G ratio of 1.76 and a beta of 1.07.
Zurn Elkay Water Solutions Cor (NYSE:ZWS – Get Free Report) last released its earnings results on Tuesday, July 28th. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $491.00 million during the quarter, compared to analysts’ expectations of $483.04 million. Zurn Elkay Water Solutions Cor had a return on equity of 18.01% and a net margin of 15.45%. Zurn Elkay Water Solutions Cor’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 EPS. Analysts forecast that Zurn Elkay Water Solutions Cor will post 1.83 earnings per share for the current fiscal year.
Analysts Set New Price Targets
ZWS has been the subject of several analyst reports. Royal Bank Of Canada lowered their price objective on Zurn Elkay Water Solutions Cor from $58.00 to $54.00 and set a “sector perform” rating for the company in a research report on Wednesday, October 14th. Stifel Nicolaus boosted their target price on Zurn Elkay Water Solutions Cor from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Zacks Research downgraded Zurn Elkay Water Solutions Cor from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Robert W. Baird set a $58.00 price objective on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, July 30th. Finally, Barclays boosted their price objective on shares of Zurn Elkay Water Solutions Cor from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.00.
Read Our Latest Stock Analysis on ZWS
Zurn Elkay Water Solutions Cor Company Profile
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.
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