Xylem (NYSE:XYL) Issues FY24 Earnings Guidance

Xylem (NYSE:XYL) updated its FY24 earnings guidance on Thursday. 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.

Analyst Ratings Changes

XYL has been the subject of several analyst reports. Robert W. Baird upped their price objective on Xylem from $151.00 to $155.00 and gave the stock an outperform rating in a research report on Friday. Mizuho increased their price target on shares of Xylem from $110.00 to $135.00 and gave the company a neutral rating in a research note on Friday. BNP Paribas assumed coverage on shares of Xylem in a report on Tuesday, March 12th. They issued an outperform rating and a $150.00 target price for the company. Citigroup lifted their price target on shares of Xylem from $126.00 to $139.00 and gave the stock a neutral rating in a research note on Monday, April 8th. Finally, Royal Bank of Canada lifted their target price on Xylem from $157.00 to $162.00 and gave the stock an outperform rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $140.70.

Xylem Stock Performance

Shares of XYL stock traded up $1.22 during mid-day trading on Friday, hitting $137.21. The stock had a trading volume of 1,418,175 shares, compared to its average volume of 1,226,487. The firm has a market cap of $33.26 billion, a PE ratio of 48.83, a PEG ratio of 2.69 and a beta of 1.08. The company’s 50-day simple moving average is $128.64 and its 200-day simple moving average is $115.36. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.67 and a quick ratio of 1.30. Xylem has a fifty-two week low of $87.59 and a fifty-two week high of $138.46.

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

Xylem Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 21st were given a $0.36 dividend. This is a boost from Xylem’s previous quarterly dividend of $0.33. The ex-dividend date was Tuesday, February 20th. This represents a $1.44 annualized dividend and a yield of 1.05%. Xylem’s dividend payout ratio is presently 51.25%.

Insider Buying and Selling at Xylem

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

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.