Xylem (NYSE:XYL) Issues FY24 Earnings Guidance

Xylem (NYSE:XYL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $4.10-4.25 for the period, compared to the consensus EPS estimate of $4.13. The company issued revenue guidance of ~$8.5 billion, compared to the consensus revenue estimate of $8.51 billion.

Xylem Stock Up 1.7 %

Shares of NYSE XYL opened at $133.24 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.76 and a debt-to-equity ratio of 0.22. Xylem has a 52 week low of $87.59 and a 52 week high of $133.71. The firm’s fifty day moving average is $128.19 and its 200 day moving average is $114.74. The company has a market cap of $32.30 billion, a price-to-earnings ratio of 48.15, a PEG ratio of 2.60 and a beta of 1.08.

Xylem (NYSE:XYL) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.84 by $0.06. Xylem had a net margin of 8.27% and a return on equity of 9.65%. The company had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2 billion. During the same period in the previous year, the firm earned $0.72 earnings per share. The firm’s revenue for the quarter was up 40.4% on a year-over-year basis. On average, equities research analysts expect that Xylem will post 4.13 earnings per share for the current year.

Xylem Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 21st were given a dividend of $0.36 per share. This is an increase from Xylem’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Tuesday, February 20th. Xylem’s payout ratio is presently 52.94%.

Analyst Ratings Changes

A number of research analysts have issued reports on XYL shares. Robert W. Baird boosted their price objective on shares of Xylem from $141.00 to $148.00 and gave the company an outperform rating in a research report on Thursday, March 21st. Raymond James raised shares of Xylem from an underperform rating to a market perform rating in a research report on Thursday, January 4th. Oppenheimer boosted their price objective on shares of Xylem from $133.00 to $142.00 and gave the company an outperform rating in a research report on Thursday, April 18th. BNP Paribas assumed coverage on shares of Xylem in a research report on Tuesday, March 12th. They set an outperform rating and a $150.00 price objective on the stock. Finally, Royal Bank of Canada upped their target price on shares of Xylem from $140.00 to $145.00 and gave the stock an outperform rating in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Xylem currently has an average rating of Moderate Buy and an average target price of $138.11.

Insider Activity

In related news, SVP Franz Cerwinka sold 2,408 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 11,750 shares in the company, valued at $1,431,032.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Geri-Michelle Mcshane sold 1,000 shares of Xylem stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $122.89, for a total value of $122,890.00. Following the completion of the sale, the chief accounting officer now directly owns 2,935 shares in the company, valued at $360,682.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Franz Cerwinka sold 2,408 shares of Xylem stock in a transaction dated 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 of the company’s stock, valued at $1,431,032.50. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

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.