Badger Meter, Inc. (NYSE:BMI) Declares $0.17 Quarterly Dividend

Badger Meter, Inc. (NYSE:BMI) announced a quarterly dividend on Friday, February 14th, RTT News reports. Stockholders of record on Friday, February 28th will be paid a dividend of 0.17 per share by the scientific and technical instruments company on Friday, March 13th. This represents a $0.68 annualized dividend and a dividend yield of 0.98%.

Badger Meter has increased its dividend payment by an average of 11.5% annually over the last three years and has increased its dividend annually for the last 18 consecutive years. Badger Meter has a dividend payout ratio of 39.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Badger Meter to earn $1.88 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 36.2%.

Shares of NYSE BMI traded up $0.33 during midday trading on Friday, hitting $69.05. The company’s stock had a trading volume of 5,935 shares, compared to its average volume of 189,140. The business’s 50 day moving average is $63.61 and its two-hundred day moving average is $58.28. Badger Meter has a 12-month low of $49.66 and a 12-month high of $68.75. The firm has a market cap of $1.97 billion, a P/E ratio of 42.66 and a beta of 0.86.

Badger Meter (NYSE:BMI) last issued its quarterly earnings results on Wednesday, February 5th. The scientific and technical instruments company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $107.60 million for the quarter, compared to the consensus estimate of $108.39 million. Badger Meter had a return on equity of 14.74% and a net margin of 11.11%. The company’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share. As a group, research analysts expect that Badger Meter will post 1.75 EPS for the current year.

BMI has been the topic of several research reports. Robert W. Baird raised their price objective on Badger Meter from $48.00 to $52.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Boenning Scattergood restated a “neutral” rating on shares of Badger Meter in a report on Wednesday, February 5th. Canaccord Genuity downgraded Badger Meter from a “hold” rating to a “sell” rating and set a $50.00 price objective on the stock. in a report on Thursday, January 2nd. ValuEngine downgraded Badger Meter from a “buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Zacks Investment Research upgraded Badger Meter from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Badger Meter currently has a consensus rating of “Hold” and an average price target of $55.60.

About Badger Meter

Badger Meter, Inc provides flow measurement, control, and communication solutions worldwide. It offers mechanical and electronic water meters, and related technologies and services to municipal water utilities; and meters and valves to measure and control materials flowing through a pipe or pipeline, including water, air, steam, oil, and other liquids and gases, as well as for use in water/wastewater, heating, ventilating and air conditioning, oil and gas, chemical and petrochemical, test and measurement, automotive aftermarket, and the concrete construction process industries.

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Dividend History for Badger Meter (NYSE:BMI)

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