Xylem (NYSE:XYL) Issues Quarterly Earnings Results, Meets Expectations

Xylem (NYSE:XYL) released its earnings results on Thursday. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.11, Briefing.com reports. Xylem had a return on equity of 9.61% and a net margin of 9.85%. The firm had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter last year, the firm posted $0.99 EPS. The company’s revenue was up .2% on a year-over-year basis. Xylem updated its FY 2024 guidance to 4.220-4.240 EPS and its FY24 guidance to $4.22-$4.24 EPS.

Xylem Trading Down 1.9 %

Shares of Xylem stock opened at $119.46 on Friday. Xylem has a 12-month low of $93.86 and a 12-month high of $146.08. The stock has a market capitalization of $29.02 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05. The company has a 50-day simple moving average of $132.78 and a 200 day simple moving average of $135.13. The company has a quick ratio of 1.33, a current ratio of 1.96 and a debt-to-equity ratio of 0.19.

Xylem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th were paid a $0.36 dividend. The ex-dividend date was Thursday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. Xylem’s dividend payout ratio is presently 42.11%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada lowered their price objective on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating on the stock in a research note on Friday. Stifel Nicolaus raised their price target on shares of Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. TD Cowen reaffirmed a “hold” rating and set a $138.00 price objective on shares of Xylem in a research report on Tuesday, September 3rd. UBS Group assumed coverage on shares of Xylem in a research note on Tuesday, August 13th. They issued a “buy” rating and a $165.00 target price for the company. Finally, Robert W. Baird lowered their price target on Xylem from $175.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Xylem currently has a consensus rating of “Moderate Buy” and an average price target of $148.25.

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.