Xylem (NYSE:XYL) Releases FY24 Earnings Guidance

Xylem (NYSE:XYL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $4.10-4.25 for the period, compared to the consensus estimate of $4.13. The company issued revenue guidance of ~$8.5 billion, compared to the consensus revenue estimate of $8.51 billion.

Xylem Stock Up 0.9 %

Shares of NYSE:XYL traded up $1.22 on Friday, hitting $137.21. 1,418,175 shares of the company’s stock were exchanged, compared to its average volume of 1,226,487. Xylem has a 1-year low of $87.59 and a 1-year high of $138.46. The company has a market capitalization of $33.26 billion, a PE ratio of 48.83, a P/E/G ratio of 2.69 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.30 and a current ratio of 1.67. The firm’s 50-day moving average is $128.64 and its 200 day moving average is $115.36.

Xylem (NYSE:XYL) last released its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.06. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2 billion. Xylem had a net margin of 8.34% and a return on equity of 8.95%. Xylem’s revenue for the quarter was up 40.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.72 earnings per share. Sell-side analysts predict that Xylem will post 4.24 EPS for the current year.

Xylem Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 21st were issued a dividend of $0.36 per share. The ex-dividend date was Tuesday, February 20th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.05%. This is a positive change from Xylem’s previous quarterly dividend of $0.33. Xylem’s dividend payout ratio (DPR) is currently 51.25%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on XYL shares. Stifel Nicolaus lifted their price target on Xylem from $136.00 to $150.00 and gave the company a buy rating in a research note on Wednesday, February 7th. Citigroup increased their price target on shares of Xylem from $126.00 to $139.00 and gave the company a neutral rating in a report on Monday, April 8th. Mizuho boosted their price objective on shares of Xylem from $110.00 to $135.00 and gave the stock a neutral rating in a report on Friday. Royal Bank of Canada increased their target price on shares of Xylem from $157.00 to $162.00 and gave the company an outperform rating in a report on Friday. Finally, Oppenheimer boosted their price target on Xylem from $142.00 to $147.00 and gave the stock an outperform rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $140.70.

Insider Transactions at Xylem

In other news, SVP Franz Cerwinka sold 2,408 shares of Xylem stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $121.79, for a total transaction of $293,270.32. Following the sale, the senior vice president now owns 11,750 shares in the company, valued at $1,431,032.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Franz Cerwinka sold 2,408 shares of the firm’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $121.79, for a total transaction of $293,270.32. Following the completion of the sale, the senior vice president now directly owns 11,750 shares in the company, valued at $1,431,032.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Geri-Michelle Mcshane sold 1,000 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $122.89, for a total value of $122,890.00. Following the completion of the transaction, the chief accounting officer now owns 2,935 shares in the company, valued at approximately $360,682.15. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

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.