Xylem (NYSE:XYL) Updates FY24 Earnings Guidance

Xylem (NYSE:XYL - Get Free Report) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.22-$4.24 for the period, compared to the consensus estimate of $4.26. The company issued revenue guidance of $8.50 billion, compared to the consensus revenue estimate of $8.58 billion. Xylem also updated its FY 2024 guidance to 4.220-4.240 EPS.

Xylem Stock Down 6.5 %

Shares of Xylem stock traded down $8.44 on Thursday, hitting $121.78. 2,880,744 shares of the company traded hands, compared to its average volume of 1,185,467. The company has a quick ratio of 1.33, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. Xylem has a 12-month low of $91.42 and a 12-month high of $146.08. The company has a 50-day moving average price of $133.41 and a 200 day moving average price of $135.28. The company has a market cap of $29.58 billion, a PE ratio of 41.21, a PEG ratio of 2.30 and a beta of 1.04.

Xylem (NYSE:XYL - Get Free Report) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.04. Xylem had a net margin of 9.11% and a return on equity of 9.48%. The business had revenue of $2.17 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Xylem's quarterly revenue was up 26.0% compared to the same quarter last year. Sell-side analysts predict that Xylem will post 4.26 earnings per share for the current year.

Xylem Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Shareholders 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 annualized dividend and a yield of 1.18%. Xylem's dividend payout ratio (DPR) is presently 45.57%.

Wall Street Analyst Weigh In

XYL has been the subject of a number of research analyst reports. TD Cowen reiterated a "hold" rating and set a $138.00 price target on shares of Xylem in a report on Tuesday, September 3rd. Royal Bank of Canada lifted their price target on shares of Xylem from $160.00 to $163.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. 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 report on Wednesday, July 31st. Robert W. Baird lifted their price target on Xylem from $155.00 to $170.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Finally, UBS Group assumed coverage on shares of Xylem in a research report on Tuesday, August 13th. They issued a "buy" rating and a $165.00 price target for the company. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $149.67.

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.