Xylem (NYSE:XYL) Issues FY24 Earnings Guidance

Xylem (NYSE:XYL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $4.22-$4.24 for the period, compared to the consensus earnings per share 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 1.9 %

XYL stock traded down $2.32 during trading hours on Friday, hitting $119.46. The company’s stock had a trading volume of 1,925,015 shares, compared to its average volume of 981,687. The company 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. The stock has a 50 day moving average price of $132.78 and a two-hundred day moving average price of $135.13. The company has a quick ratio of 1.33, a current ratio of 1.96 and a debt-to-equity ratio of 0.19. Xylem has a 12 month low of $93.86 and a 12 month high of $146.08.

Xylem (NYSE:XYL) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.11. Xylem had a net margin of 9.85% and a return on equity of 9.61%. The firm had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the company posted $0.99 earnings per share. Xylem’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts expect that Xylem will post 4.26 earnings per share for the current year.

Xylem Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. TD Cowen reiterated a “hold” rating and set a $138.00 price target on shares of Xylem in a report on Tuesday, September 3rd. Stifel Nicolaus raised their target price on shares of Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Robert W. Baird dropped their target price on shares of Xylem from $175.00 to $154.00 and set an “outperform” rating on the stock in a report on Friday. Royal Bank of Canada decreased their price target on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a report on Friday. Finally, UBS Group initiated coverage on Xylem in a research note on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.