Brokers Issue Forecasts for Mueller Water Products Inc.’s FY2018 Earnings (MWA)
Mueller Water Products Inc. (NYSE:MWA) – Research analysts at Northcoast Research issued their FY2018 earnings per share estimates for Mueller Water Products in a research report issued to clients and investors on Wednesday. Northcoast Research analyst A. Cohen anticipates that the brokerage will post earnings per share of $0.80 for the year. Northcoast Research currently has a “Buy” rating on the stock.
Mueller Water Products (NYSE:MWA) last issued its earnings results on Wednesday, August 3rd. The company reported $0.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.01. Mueller Water Products had a return on equity of 20.05% and a net margin of 5.20%. The business earned $310 million during the quarter, compared to analysts’ expectations of $301 million. During the same period in the prior year, the business earned $0.15 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research raised Mueller Water Products from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, August 9th. Boenning Scattergood cut Mueller Water Products from an “outperform” rating to a “neutral” rating in a report on Wednesday, July 13th. Finally, DA Davidson increased their price target on Mueller Water Products from $11.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $12.25.
Shares of Mueller Water Products (NYSE:MWA) opened at 12.32 on Friday. The stock has a market capitalization of $1.99 billion, a PE ratio of 33.30 and a beta of 1.33. Mueller Water Products has a one year low of $7.52 and a one year high of $13.50. The firm has a 50 day moving average price of $12.21 and a 200 day moving average price of $11.36.
Large investors have recently bought and sold shares of the stock. Silvercrest Asset Management Group LLC acquired a new stake in Mueller Water Products during the second quarter valued at about $32,727,000. Westfield Capital Management Co. LP boosted 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 valued at $23,183,000 after buying an additional 1,747,136 shares during the period. Franklin Resources Inc. boosted 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 valued at $32,315,000 after buying an additional 1,431,363 shares during the period. RS Investment Management Co. LLC acquired a new stake in Mueller Water Products during the second quarter valued at about $15,590,000. Finally, 1832 Asset Management L.P. acquired a new stake in Mueller Water Products during the second quarter valued at about $24,998,000. 85.07% of the stock is owned by hedge funds and other institutional investors.
Mueller Water Products Company Profile
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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