Badger Meter (BMI) Announces Earnings Results, Beats Expectations By $0.01 EPS

Badger Meter (NYSE:BMI) announced its earnings results on Wednesday. The scientific and technical instruments company reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01, RTT News reports. Badger Meter had a net margin of 6.41% and a return on equity of 15.39%. The business had revenue of $104.90 million for the quarter, compared to the consensus estimate of $111.47 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down .1% on a year-over-year basis.

BMI stock traded down $0.16 during trading on Thursday, hitting $56.00. The company had a trading volume of 21,390 shares, compared to its average volume of 126,704. The company has a market capitalization of $1.64 billion, a PE ratio of 36.36 and a beta of 0.78. Badger Meter has a 52-week low of $41.00 and a 52-week high of $61.57.

Several equities research analysts have recently weighed in on the stock. Boenning Scattergood reissued a “hold” rating on shares of Badger Meter in a research note on Tuesday, February 5th. Maxim Group reaffirmed a “buy” rating and issued a $65.00 price target on shares of Badger Meter in a research note on Monday, January 7th. Zacks Investment Research raised shares of Badger Meter from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Tuesday, January 8th. Berenberg Bank raised shares of Badger Meter from a “sell” rating to a “hold” rating in a research note on Monday, January 7th. Finally, Stifel Nicolaus raised their price target on shares of Badger Meter from $50.00 to $55.00 and gave the stock a “hold” rating in a research note on Tuesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Badger Meter currently has a consensus rating of “Hold” and an average target price of $51.17.

In other Badger Meter news, VP Raymond G. Serdynski sold 11,204 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $57.38, for a total transaction of $642,885.52. Following the transaction, the vice president now directly owns 4,563 shares in the company, valued at approximately $261,824.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Kimberly K. Stoll sold 3,647 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $56.62, for a total transaction of $206,493.14. Following the transaction, the vice president now owns 9,889 shares in the company, valued at $559,915.18. The disclosure for this sale can be found here. Insiders sold a total of 38,705 shares of company stock worth $2,271,763 in the last ninety days. 2.60% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the business. Intercontinental Wealth Advisors LLC acquired a new stake in Badger Meter in the 4th quarter worth approximately $28,000. Bruderman Asset Management LLC purchased a new position in Badger Meter during the 4th quarter worth approximately $50,000. Clean Yield Group purchased a new position in Badger Meter during the 4th quarter worth approximately $59,000. Quantamental Technologies LLC purchased a new position in Badger Meter during the 4th quarter worth approximately $61,000. Finally, ETF Managers Group LLC raised its position in Badger Meter by 17.3% during the 4th quarter. ETF Managers Group LLC now owns 2,770 shares of the scientific and technical instruments company’s stock worth $136,000 after buying an additional 408 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

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About Badger Meter

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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Earnings History for Badger Meter (NYSE:BMI)

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