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 (EPS) guidance of $4.22-$4.24 for the period, compared to the consensus 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.

Analysts Set New Price Targets

Several research analysts have commented on the company. Royal Bank of Canada cut their price objective on Xylem from $163.00 to $162.00 and set an “outperform” rating on the stock in a research report on Friday. Stifel Nicolaus boosted their price target on Xylem from $170.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. UBS Group assumed coverage on Xylem in a report on Tuesday, August 13th. They issued a “buy” rating and a $165.00 price target for the company. Robert W. Baird dropped their price objective on shares of Xylem from $175.00 to $154.00 and set an “outperform” rating on the stock in a research note on Friday. Finally, TD Cowen restated a “hold” rating and issued a $138.00 target price on shares of Xylem in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.25.

Xylem Stock Down 1.9 %

NYSE XYL traded down $2.32 on Friday, hitting $119.46. 1,925,015 shares of the stock traded hands, 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 stock has a 50-day moving average of $132.78 and a 200 day moving average of $135.13. Xylem has a twelve month low of $93.86 and a twelve month high of $146.08. The company has a market capitalization of $29.02 billion, a P/E ratio of 34.93, a price-to-earnings-growth ratio of 2.14 and a beta of 1.05.

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

Xylem Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Thursday, August 29th were given a dividend of $0.36 per share. 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 dividend payout ratio is presently 42.11%.

About Xylem

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.