Xylem (NYSE:XYL) Releases 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 Stock Down 1.9 %

Shares of NYSE XYL traded down $2.32 during mid-day trading on Friday, hitting $119.46. The company had a trading volume of 1,925,015 shares, compared to its average volume of 981,687. The company has a current ratio of 1.96, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The firm has a 50-day simple moving average of $132.78 and a two-hundred day simple moving average of $135.13. 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. Xylem has a one year low of $93.86 and a one year high of $146.08.

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

Xylem Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Royal Bank of Canada decreased their price objective on shares of Xylem from $163.00 to $162.00 and set an “outperform” rating for the company in a research report on Friday. Stifel Nicolaus raised their price objective on Xylem from $170.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. TD Cowen reiterated a “hold” rating and set a $138.00 target price on shares of Xylem in a research note on Tuesday, September 3rd. Robert W. Baird dropped their price target on Xylem from $175.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, UBS Group initiated coverage on shares of Xylem in a report 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average 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.