Xylem (NYSE:XYL) Issues FY 2024 Earnings Guidance

Xylem (NYSE:XYL) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 4.220-4.240 for the period, compared to the consensus estimate of 4.260. The company issued revenue guidance of $8.5 billion-$8.5 billion, compared to the consensus revenue estimate of $8.6 billion. Xylem also updated its FY24 guidance to $4.22-$4.24 EPS.

Xylem Stock Performance

XYL traded down $2.32 during trading on Friday, reaching $119.46. 1,925,015 shares of the company were exchanged, compared to its average volume of 981,687. Xylem has a 52 week low of $93.86 and a 52 week high of $146.08. 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 moving average of $132.78 and a 200 day moving average of $135.13. The stock has a market cap of $29.02 billion, a P/E ratio of 34.93, a PEG ratio of 2.14 and a beta of 1.05.

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

Xylem Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Thursday, August 29th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.44 annualized dividend and a dividend yield of 1.21%. Xylem’s payout ratio is 42.11%.

Analysts Set New Price Targets

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