Xylem (NYSE:XYL) Posts Quarterly Earnings Results, Meets Estimates

Xylem (NYSE:XYL) posted its quarterly earnings results on Thursday. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.11, Briefing.com reports. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.17 billion. Xylem had a return on equity of 9.48% and a net margin of 9.11%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 EPS. Xylem updated its FY 2024 guidance to 4.220-4.240 EPS and its FY24 guidance to $4.22-$4.24 EPS.

Xylem Stock Performance

NYSE:XYL traded down $2.32 during trading hours on Friday, hitting $119.46. 1,924,981 shares of the company traded hands, compared to its average volume of 1,189,008. The company has a current ratio of 1.85, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. Xylem has a twelve month low of $93.86 and a twelve month high of $146.08. The firm has a 50-day moving average of $133.41 and a 200 day moving average of $135.28. The stock has a market capitalization of $29.02 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 2.29 and a beta of 1.04.

Xylem Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, August 29th. Xylem’s dividend payout ratio (DPR) is currently 45.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Xylem in a research report on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price target on the stock. TD Cowen reaffirmed a “hold” rating and issued a $138.00 target price on shares of Xylem in a research report on Tuesday, September 3rd. Robert W. Baird reduced their price target on shares of Xylem from $175.00 to $154.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus lifted their price objective on shares of Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Royal Bank of Canada reduced their price objective on Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Friday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Xylem currently has an average rating of “Moderate Buy” and a consensus target price of $148.25.

Xylem Company Profile

Xylem Inc, together with its subsidiaries, engages in the design, manufacture, and servicing of engineered products and solutions worldwide. It operates through four segments: Water Infrastructure, Applied Water, Measurement & Control Solutions, and Integrated Solutions and Services. The Water Infrastructure segment offers products, including water, storm water, and wastewater pumps; controls and systems; filtration, disinfection, and biological treatment equipment; and mobile dewatering equipment and rental services under the ADI, Flygt, Godwin, Sanitaire, Magneto, Neptune Benson, Ionpure, Leopold, Wedeco, and Xylem Vue brands.