Xylem (NYSE:XYL) Issues Earnings Results

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

Xylem Price Performance

Shares of XYL stock traded up $5.54 during midday trading on Thursday, reaching $136.50. 706,110 shares of the company traded hands, compared to its average volume of 1,157,977. The firm has a market cap of $33.09 billion, a PE 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 50 day simple moving average is $128.19 and its two-hundred day simple moving average is $114.74. Xylem has a 1-year low of $87.59 and a 1-year high of $136.69.

Xylem Increases Dividend

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

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of research analysts have commented on XYL shares. Citigroup lifted their price objective on shares of Xylem from $126.00 to $139.00 and gave the company a “neutral” rating in a research note on Monday, April 8th. Stifel Nicolaus lifted their target price on Xylem from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Raymond James upgraded Xylem from an “underperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada increased their price target on Xylem from $140.00 to $145.00 and gave the stock an “outperform” rating in a report on Wednesday, February 7th. Finally, BNP Paribas began coverage on shares of Xylem in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $150.00 price objective on the stock. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company 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.