Zurn Elkay Water Solutions Cor Announces Quarterly Dividend of $0.11 (NYSE:ZWS)

Zurn Elkay Water Solutions Cor (NYSE:ZWSGet Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Thursday, August 20th will be given a dividend of 0.11 per share on Friday, September 4th. This represents a c) annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Thursday, August 20th.

Zurn Elkay Water Solutions Cor has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Zurn Elkay Water Solutions Cor has a payout ratio of 29.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Zurn Elkay Water Solutions Cor to earn $1.90 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 23.2%.

Zurn Elkay Water Solutions Cor Stock Performance

Shares of ZWS opened at $48.28 on Friday. The firm has a market cap of $8.06 billion, a P/E ratio of 38.93, a PEG ratio of 1.88 and a beta of 1.04. Zurn Elkay Water Solutions Cor has a twelve month low of $37.25 and a twelve month high of $53.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.11 and a current ratio of 3.24. The firm’s 50 day moving average price is $48.26 and its two-hundred day moving average price is $48.26.

Zurn Elkay Water Solutions Cor (NYSE:ZWSGet Free Report) last posted its quarterly earnings data on Tuesday, April 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.04. Zurn Elkay Water Solutions Cor had a return on equity of 17.40% and a net margin of 12.26%.The business had revenue of $433.00 million during the quarter, compared to the consensus estimate of $418.99 million. During the same period last year, the company earned $0.31 earnings per share. Zurn Elkay Water Solutions Cor’s quarterly revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Zurn Elkay Water Solutions Cor will post 1.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ZWS shares. Royal Bank Of Canada upped their price target on shares of Zurn Elkay Water Solutions Cor from $49.00 to $56.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 23rd. Stifel Nicolaus cut their target price on shares of Zurn Elkay Water Solutions Cor from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Monday. Weiss Ratings raised Zurn Elkay Water Solutions Cor from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. UBS Group set a $56.00 target price on Zurn Elkay Water Solutions Cor in a research note on Thursday, April 23rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $58.00 price target on shares of Zurn Elkay Water Solutions Cor in a report on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.00.

View Our Latest Stock Analysis on ZWS

Zurn Elkay Water Solutions Cor Company Profile

(Get Free Report)

Zurn Elkay Water Solutions Corp, trading on the NYSE under the ticker ZWS, is a global provider of water delivery and plumbing products. The company was established in October 2022 through a spin-off from Rexnord Corp, creating a standalone business focused on designing, manufacturing and marketing water system components for residential, commercial and industrial customers.

Through its Zurn segment, the company offers solutions for water delivery, drainage and waste evacuation. Product lines include valves, hydrants, backflow prevention devices, piping systems, fittings and commercial waste stations.

Further Reading

Dividend History for Zurn Elkay Water Solutions Cor (NYSE:ZWS)

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