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.
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.
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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