Badger Meter Inc. (BMI) Announces Earnings Results, Misses Expectations By $0.03 EPS
Badger Meter Inc. (NYSE:BMI) posted its quarterly earnings data on Tuesday. The company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by $0.03. Badger Meter had a return on equity of 13.19% and a net margin of 7.81%. The firm had revenue of $96.30 million for the quarter, compared to analyst estimates of $105.66 million. During the same period in the prior year, the company posted $0.58 EPS. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year.
Badger Meter (NYSE:BMI) opened at 33.01 on Tuesday. The stock has a 50 day moving average price of $33.19 and a 200-day moving average price of $35.00. Badger Meter has a 1-year low of $26.40 and a 1-year high of $39.36. The firm has a market cap of $960.49 million, a P/E ratio of 30.56 and a beta of 0.63.
Separately, Zacks Investment Research downgraded Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Badger Meter has a consensus rating of “Hold” and a consensus target price of $32.88.
In other news, insider Ronald H. Dix sold 2,000 shares of Badger Meter stock in a transaction that occurred on Tuesday, August 23rd. The shares were sold at an average price of $68.72, for a total value of $137,440.00. Following the completion of the sale, the insider now directly owns 28,300 shares in the company, valued at $1,944,776. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP William R. A. Bergum sold 2,250 shares of Badger Meter stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $65.09, for a total transaction of $146,452.50. Following the completion of the sale, the vice president now owns 4,432 shares of the company’s stock, valued at $288,478.88. The disclosure for this sale can be found here. 4.60% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Advisors LLC boosted its position in shares of Badger Meter by 0.4% in the second quarter. BlackRock Advisors LLC now owns 6,810 shares of the company’s stock worth $497,000 after buying an additional 25 shares during the period. BOKF NA boosted its position in shares of Badger Meter by 0.4% in the second quarter. BOKF NA now owns 7,327 shares of the company’s stock worth $535,000 after buying an additional 26 shares during the period. Alliancebernstein L.P. boosted its position in shares of Badger Meter by 0.3% in the second quarter. Alliancebernstein L.P. now owns 29,407 shares of the company’s stock worth $2,148,000 after buying an additional 102 shares during the period. BlackRock Inc. boosted its position in shares of Badger Meter by 3.0% in the second quarter. BlackRock Inc. now owns 6,557 shares of the company’s stock worth $479,000 after buying an additional 192 shares during the period. Finally, Arizona State Retirement System boosted its position in shares of Badger Meter by 2.7% in the second quarter. Arizona State Retirement System now owns 7,597 shares of the company’s stock worth $555,000 after buying an additional 200 shares during the period. 39.86% of the stock is currently owned by institutional investors and hedge funds.
Badger Meter Company Profile
Badger Meter, Inc is engaged in flow measurement, control and communication solutions, serving water utilities, municipalities, and commercial and industrial customers across the world. The Company’s products, measure water, oil, chemicals and other fluids, provide and communicate timely measurement data.
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