FY2019 Earnings Forecast for Badger Meter, Inc. Issued By Boenning Scattergood (BMI)

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Badger Meter, Inc. (NYSE:BMI) – Stock analysts at Boenning Scattergood cut their FY2019 earnings per share (EPS) estimates for shares of Badger Meter in a report released on Tuesday, February 5th. Boenning Scattergood analyst R. Connors now expects that the scientific and technical instruments company will post earnings per share of $1.68 for the year, down from their prior forecast of $1.70. Boenning Scattergood currently has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Badger Meter’s Q4 2019 earnings at $0.37 EPS.

A number of other research analysts also recently weighed in on the company. Maxim Group started coverage on Badger Meter in a report on Monday, November 5th. They issued a “buy” rating and a $65.00 target price on the stock. Berenberg Bank raised Badger Meter from a “sell” rating to a “hold” rating in a report on Monday, January 7th. Finally, Zacks Investment Research downgraded Badger Meter from a “strong-buy” rating to a “hold” rating in a report on Thursday, January 3rd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $50.33.

Shares of NYSE:BMI opened at $59.19 on Friday. Badger Meter has a 1 year low of $41.00 and a 1 year high of $59.43. The firm has a market cap of $1.70 billion, a PE ratio of 38.44, a price-to-earnings-growth ratio of 3.67 and a beta of 0.79.

Badger Meter (NYSE:BMI) last announced its quarterly earnings results on Tuesday, February 5th. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.02. The firm had revenue of $104.40 million for the quarter, compared to the consensus estimate of $103.54 million. Badger Meter had a return on equity of 15.39% and a net margin of 6.41%. The company’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share.

A number of institutional investors and hedge funds have recently modified their holdings of BMI. BlackRock Inc. increased its position in Badger Meter by 5.3% in the third quarter. BlackRock Inc. now owns 4,241,678 shares of the scientific and technical instruments company’s stock worth $224,597,000 after buying an additional 213,187 shares in the last quarter. Vanguard Group Inc. increased its position in Badger Meter by 2.5% in the third quarter. Vanguard Group Inc. now owns 3,105,545 shares of the scientific and technical instruments company’s stock worth $164,438,000 after buying an additional 76,731 shares in the last quarter. Vanguard Group Inc increased its position in Badger Meter by 2.5% in the third quarter. Vanguard Group Inc now owns 3,105,545 shares of the scientific and technical instruments company’s stock worth $164,438,000 after buying an additional 76,731 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Badger Meter by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,140,117 shares of the scientific and technical instruments company’s stock worth $60,369,000 after buying an additional 3,011 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Badger Meter by 4.2% in the third quarter. Wells Fargo & Company MN now owns 715,791 shares of the scientific and technical instruments company’s stock worth $37,901,000 after buying an additional 28,992 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

In other Badger Meter news, VP Beverly L. P. Smiley sold 4,000 shares of the stock in a transaction dated Tuesday, December 11th. The stock was sold at an average price of $54.42, for a total value of $217,680.00. Following the transaction, the vice president now owns 48,516 shares of the company’s stock, valued at $2,640,240.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Horst Gras sold 2,250 shares of the stock in a transaction dated Thursday, December 6th. The shares were sold at an average price of $53.57, for a total value of $120,532.50. Following the completion of the transaction, the vice president now directly owns 12,650 shares in the company, valued at approximately $677,660.50. The disclosure for this sale can be found here. In the last three months, insiders sold 9,552 shares of company stock worth $514,969. 2.80% of the stock is owned by corporate insiders.

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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