Xylem (NYSE:XYL) Releases Earnings Results, Hits Expectations

Xylem (NYSE:XYL - Get Free Report) announced its 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 net margin of 9.85% and a return on equity of 9.61%. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter in the previous year, the business posted $0.99 earnings per share. 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 %

Xylem stock traded down $2.32 during midday trading on Friday, reaching $119.46. The stock had a trading volume of 1,925,015 shares, compared to its average volume of 981,687. The stock's 50-day simple moving average is $132.78 and its 200 day simple moving average is $135.13. Xylem has a twelve month low of $93.86 and a twelve month high of $146.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.33 and a current ratio of 1.96. The stock has a market capitalization of $29.02 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05.

Xylem Dividend Announcement

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

Analyst Ratings Changes

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

Xylem Company Profile

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.