Xylem (NYSE:XYL) Releases FY 2024 Earnings Guidance

Xylem (NYSE:XYL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 4.220-4.240 for the period, compared to the consensus earnings per share 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 Price Performance

NYSE:XYL traded down $2.32 on Friday, reaching $119.46. The stock had a trading volume of 1,925,015 shares, compared to its average volume of 981,687. 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. The company has a quick ratio of 1.33, a current ratio of 1.96 and a debt-to-equity ratio of 0.19. Xylem has a 1-year low of $93.86 and a 1-year high of $146.08. The stock has a fifty day moving average price of $132.78 and a 200-day moving average price of $135.13.

Xylem (NYSE:XYL) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $1.11 earnings per share (EPS) 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 business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the business posted $0.99 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts forecast that Xylem will post 4.26 EPS for the current year.

Xylem Announces Dividend

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

Analyst Upgrades and Downgrades

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