Xylem (NYSE:XYL) Issues FY24 Earnings Guidance

Xylem (NYSE:XYL) updated its FY24 earnings guidance on Thursday. 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 Trading Down 1.9 %

XYL stock traded down $2.32 during midday trading on Friday, reaching $119.46. 1,925,015 shares of the company’s stock traded hands, compared to its average volume of 981,687. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.96 and a quick ratio of 1.33. Xylem has a fifty-two week low of $93.86 and a fifty-two week high of $146.08. The business 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 market capitalization of $29.02 billion, a P/E ratio of 34.93, a PEG ratio of 2.14 and a beta of 1.05.

Xylem (NYSE:XYL) last posted its earnings results on Thursday, October 31st. The industrial products company reported $1.11 earnings per share for the quarter, meeting the consensus estimate of $1.11. Xylem had a net margin of 9.85% and a return on equity of 9.61%. The business had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business posted $0.99 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts forecast that Xylem will post 4.26 EPS for the current fiscal year.

Xylem Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts have weighed in on XYL shares. Stifel Nicolaus upped their price target on Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. TD Cowen reaffirmed a “hold” rating and set a $138.00 price target on shares of Xylem in a research note on Tuesday, September 3rd. Royal Bank of Canada cut their price objective on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating on the stock in a report on Friday. Robert W. Baird lowered their target price on Xylem from $175.00 to $154.00 and set an “outperform” rating for the company in a research note on Friday. Finally, UBS Group assumed coverage on Xylem in a research note on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price target on the stock. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.