FY2016 EPS Estimates for Mueller Water Products Inc. (MWA) Raised by Analyst
Mueller Water Products Inc. (NYSE:MWA) – Northcoast Research lifted their FY2016 earnings per share estimates for shares of Mueller Water Products in a research report issued to clients and investors on Wednesday. Northcoast Research analyst A. Cohen now forecasts that the brokerage will post earnings of $0.50 per share for the year, up from their prior estimate of $0.46. Northcoast Research currently has a “Buy” rating on the stock. Northcoast Research also issued estimates for Mueller Water Products’ Q4 2016 earnings at $0.18 EPS, Q1 2017 earnings at $0.12 EPS, Q2 2017 earnings at $0.15 EPS, Q3 2017 earnings at $0.22 EPS, Q4 2017 earnings at $0.20 EPS and FY2017 earnings at $0.69 EPS.
Mueller Water Products (NYSE:MWA) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The firm had revenue of $310 million for the quarter, compared to analyst estimates of $301 million. Mueller Water Products had a net margin of 5.20% and a return on equity of 20.05%. Mueller Water Products’s revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.15 EPS.
A number of other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, August 9th. Boenning Scattergood cut Mueller Water Products from an “outperform” rating to a “neutral” rating in a research report on Wednesday, July 13th. Finally, DA Davidson raised their price target on Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a research report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $12.25.
Shares of Mueller Water Products (NYSE:MWA) traded down 0.56% during mid-day trading on Thursday, reaching $12.42. 642,155 shares of the company traded hands. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 33.57 and a beta of 1.33. Mueller Water Products has a 52-week low of $7.52 and a 52-week high of $13.50. The company’s 50 day moving average is $12.21 and its 200 day moving average is $11.33.
Hedge funds have recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC bought a new stake in Mueller Water Products during the second quarter worth approximately $32,727,000. Westfield Capital Management Co. LP raised its stake in Mueller Water Products by 617.6% in the second quarter. Westfield Capital Management Co. LP now owns 2,030,036 shares of the company’s stock worth $23,183,000 after buying an additional 1,747,136 shares during the last quarter. Franklin Resources Inc. raised its stake in Mueller Water Products by 102.4% in the second quarter. Franklin Resources Inc. now owns 2,829,705 shares of the company’s stock worth $32,315,000 after buying an additional 1,431,363 shares during the last quarter. RS Investment Management Co. LLC bought a new stake in Mueller Water Products during the second quarter worth approximately $15,590,000. Finally, 1832 Asset Management L.P. bought a new stake in Mueller Water Products during the second quarter worth approximately $24,998,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.
About Mueller Water Products
Mueller Water Products, Inc, is a manufacturer and marketer of products and services used in the transmission, distribution and measurement of water. The Company’s product portfolio includes engineered valves, fire hydrants, metering products and systems, leak detection and pipe condition assessment, which are used by municipalities, and residential and non-residential construction industries.
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