Xylem (NYSE:XYL) Posts Quarterly Earnings Results, Hits Expectations

Xylem (NYSE:XYL) released its quarterly earnings results on Thursday. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.11, Briefing.com reports. Xylem had a return on equity of 9.48% and a net margin of 9.11%. The firm had revenue of $2.10 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter last year, the business posted $0.99 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. 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 %

NYSE XYL traded down $2.32 during mid-day trading on Friday, hitting $119.46. The company’s stock had a trading volume of 1,924,981 shares, compared to its average volume of 1,189,008. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.33. Xylem has a 52-week low of $93.86 and a 52-week high of $146.08. The stock’s fifty day simple moving average is $133.41 and its two-hundred day simple moving average is $135.28. The firm has a market capitalization of $29.02 billion, a P/E ratio of 37.97, a price-to-earnings-growth ratio of 2.29 and a beta of 1.04.

Xylem Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Thursday, August 29th. Xylem’s payout ratio is currently 45.57%.

Analysts Set New Price Targets

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