Zurn Elkay Water Solutions (NYSE:ZWS) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) posted its quarterly earnings data on Tuesday. The company reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03, Briefing.com reports. Zurn Elkay Water Solutions had a net margin of 7.36% and a return on equity of 10.75%. The business had revenue of $374.00 million for the quarter, compared to analysts’ expectations of $369.43 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s revenue was up .5% compared to the same quarter last year.

Zurn Elkay Water Solutions Stock Performance

Shares of Zurn Elkay Water Solutions stock traded down $0.38 during midday trading on Wednesday, hitting $32.37. The company had a trading volume of 343,546 shares, compared to its average volume of 964,610. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 49.66, a PEG ratio of 1.78 and a beta of 1.22. The company has a quick ratio of 1.77, a current ratio of 3.02 and a debt-to-equity ratio of 0.31. The company has a fifty day simple moving average of $31.93 and a 200 day simple moving average of $29.96. Zurn Elkay Water Solutions has a 12-month low of $20.06 and a 12-month high of $34.58.

Zurn Elkay Water Solutions Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Investors of record on Tuesday, February 20th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.99%. The ex-dividend date was Friday, February 16th. Zurn Elkay Water Solutions’s payout ratio is currently 49.23%.

Insider Activity at Zurn Elkay Water Solutions

In other news, CEO Todd A. Adams sold 129,604 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total value of $4,284,708.24. Following the sale, the chief executive officer now directly owns 1,828,550 shares of the company’s stock, valued at approximately $60,451,863. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Mark W. Peterson sold 70,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $32.88, for a total value of $2,301,600.00. Following the sale, the chief financial officer now owns 302,299 shares in the company, valued at $9,939,591.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd A. Adams sold 129,604 shares of the firm’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $33.06, for a total transaction of $4,284,708.24. Following the sale, the chief executive officer now owns 1,828,550 shares in the company, valued at approximately $60,451,863. The disclosure for this sale can be found here. Insiders sold 491,924 shares of company stock valued at $15,968,328 in the last three months. 3.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ZWS has been the topic of a number of analyst reports. Mizuho cut shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Friday, February 9th. BNP Paribas initiated coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They issued an “outperform” rating and a $40.00 price objective for the company. Finally, Oppenheimer increased their price target on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, April 12th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $32.75.

Zurn Elkay Water Solutions Company Profile

Zurn Elkay Water Solutions Corporation engages in design, procurement, manufacture, and marketing of water management solutions in the United States, Canada, and internationally. It offers water safety and control products, such as backflow preventers, fire system valves, pressure reducing valves, thermostatic mixing valves, PEX pipings, fittings, and installation tools under the Zurn and Wilkins brand names.