Xylem (NYSE:XYL) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Xylem (NYSE:XYL) announced its quarterly earnings data on Thursday. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.06, RTT News reports. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2 billion. Xylem had a return on equity of 9.65% and a net margin of 8.27%. Xylem’s revenue was up 40.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.72 earnings per share. Xylem updated its FY24 guidance to $4.10-4.25 EPS.

Xylem Trading Up 4.5 %

Shares of XYL stock traded up $5.91 during trading on Thursday, hitting $136.87. 805,982 shares of the stock traded hands, compared to its average volume of 1,159,387. The firm has a market capitalization of $33.18 billion, a P/E ratio of 48.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.08. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.76 and a quick ratio of 1.30. The firm’s fifty day moving average price is $128.19 and its 200-day moving average price is $114.74. Xylem has a 52-week low of $87.59 and a 52-week high of $136.96.

Xylem Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 21st were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.05%. This is a positive change from Xylem’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 20th. Xylem’s dividend payout ratio (DPR) is 52.94%.

Insider Activity

In other news, CAO Geri-Michelle Mcshane sold 1,000 shares of Xylem stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the sale, the chief accounting officer now owns 2,935 shares of the company’s stock, valued at approximately $360,682.15. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Franz Cerwinka sold 2,408 shares of Xylem stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $121.79, for a total value of $293,270.32. Following the completion of the sale, the senior vice president now owns 11,750 shares in the company, valued at approximately $1,431,032.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Geri-Michelle Mcshane sold 1,000 shares of Xylem stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $122.89, for a total transaction of $122,890.00. Following the completion of the sale, the chief accounting officer now owns 2,935 shares of the company’s stock, valued at approximately $360,682.15. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Stifel Nicolaus upped their target price on Xylem from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Robert W. Baird increased their price objective on Xylem from $141.00 to $148.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Citigroup raised their target price on Xylem from $126.00 to $139.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th. Oppenheimer increased their price target on Xylem from $133.00 to $142.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, BNP Paribas initiated coverage on Xylem in a research report on Tuesday, March 12th. They set an “outperform” rating and a $150.00 price target on the stock. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $138.11.

About Xylem

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.