Boenning Scattergood Analysts Lift Earnings Estimates for Mueller Water Products, Inc. (MWA)
Mueller Water Products, Inc. (NYSE:MWA) – Analysts at Boenning Scattergood upped their Q2 2019 earnings per share (EPS) estimates for Mueller Water Products in a research note issued to investors on Tuesday, November 6th. Boenning Scattergood analyst R. Connors now expects that the industrial products company will post earnings of $0.16 per share for the quarter, up from their previous forecast of $0.13. Boenning Scattergood also issued estimates for Mueller Water Products’ FY2019 earnings at $0.60 EPS.
MWA has been the topic of a number of other reports. Zacks Investment Research lowered shares of Mueller Water Products from a “hold” rating to a “sell” rating in a research note on Saturday, August 25th. Oppenheimer set a $14.00 price target on shares of Mueller Water Products and gave the company a “buy” rating in a research note on Wednesday, September 12th. Berenberg Bank started coverage on shares of Mueller Water Products in a research note on Wednesday, October 3rd. They issued a “buy” rating and a $15.00 price target on the stock. Nomura decreased their price target on shares of Mueller Water Products from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, September 12th. Finally, Seaport Global Securities lowered shares of Mueller Water Products from a “buy” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $12.50 in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. Mueller Water Products presently has a consensus rating of “Hold” and an average price target of $13.25.
Mueller Water Products (NYSE:MWA) last posted its earnings results on Monday, November 5th. The industrial products company reported $0.17 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.17. Mueller Water Products had a return on equity of 15.84% and a net margin of 11.53%. The firm had revenue of $254.30 million for the quarter, compared to analysts’ expectations of $239.79 million. During the same period last year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 12.1% on a year-over-year basis.
A number of institutional investors have recently modified their holdings of MWA. Fortaleza Asset Management Inc. purchased a new position in Mueller Water Products in the 2nd quarter valued at about $128,000. Oppenheimer & Co. Inc. purchased a new position in Mueller Water Products in the 3rd quarter worth approximately $147,000. Raymond James Financial Services Advisors Inc. purchased a new position in Mueller Water Products in the 2nd quarter worth approximately $157,000. Signaturefd LLC purchased a new position in Mueller Water Products in the 2nd quarter worth approximately $171,000. Finally, UMB Bank N A MO purchased a new position in Mueller Water Products in the 3rd quarter worth approximately $172,000. 86.34% of the stock is currently owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Investors of record on Friday, November 9th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Thursday, November 8th. Mueller Water Products’s dividend payout ratio is presently 37.74%.
About Mueller Water Products
Mueller Water Products, Inc manufactures and markets products and services for use in the transmission, distribution, and measurement of water in the United States, Canada, and internationally. It operates through Infrastructure and Technologies segments. The Infrastructure segment offers valves for water and gas systems, including iron gate, butterfly, tapping, check, knife, plug, automatic control, and ball valves; dry-barrel and wet-barrel fire hydrants; pipe repair products, such as clamps and couplings used to repair leaks under the Mueller and Jones brand names; small valves, meter bars, and line stopper fittings for use in gas systems; and machines and tools for tapping, drilling, extracting, installing, and stopping-off.
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