Zurn Elkay Water Solutions (NYSE:ZWS) Issues Earnings Results, Beats Estimates By $0.03 EPS

Zurn Elkay Water Solutions (NYSE:ZWS) announced its quarterly earnings results on Tuesday. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.03, Briefing.com reports. The business had revenue of $374.00 million for the quarter, compared to analyst estimates of $369.43 million. Zurn Elkay Water Solutions had a net margin of 8.11% and a return on equity of 11.85%. The company’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS.

Zurn Elkay Water Solutions Stock Performance

Shares of ZWS traded up $0.12 during mid-day trading on Friday, hitting $32.00. 91,529 shares of the company traded hands, compared to its average volume of 979,992. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.77 and a current ratio of 3.31. The stock has a 50-day moving average price of $31.93 and a two-hundred day moving average price of $29.99. Zurn Elkay Water Solutions has a 1 year low of $20.06 and a 1 year high of $34.58. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 44.90, a P/E/G ratio of 1.79 and a beta of 1.22.

Zurn Elkay Water Solutions Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $0.32 annualized dividend and a dividend yield of 1.00%. Zurn Elkay Water Solutions’s payout ratio is 45.07%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ZWS. Mizuho lowered shares of Zurn Elkay Water Solutions from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Zurn Elkay Water Solutions from $37.00 to $36.00 and set a “buy” rating on the stock in a report on Thursday. BNP Paribas started coverage on shares of Zurn Elkay Water Solutions in a research note on Tuesday, March 12th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, Oppenheimer lifted their target price on shares of Zurn Elkay Water Solutions from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, April 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $33.50.

Insider Activity

In related news, VP Sudhanshu Chhabra sold 4,231 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.29, for a total transaction of $132,387.99. Following the completion of the sale, the vice president now directly owns 80,594 shares in the company, valued at $2,521,786.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Sudhanshu Chhabra sold 4,231 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $31.29, for a total transaction of $132,387.99. Following the completion of the sale, the vice president now directly owns 80,594 shares in the company, valued at $2,521,786.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Troutman sold 897 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $30.70, for a total transaction of $27,537.90. Following the sale, the insider now owns 43,026 shares of the company’s stock, valued at $1,320,898.20. The disclosure for this sale can be found here. Insiders sold 741,506 shares of company stock valued at $23,964,936 over the last three months. Insiders own 3.80% of the company’s stock.

About Zurn Elkay Water Solutions

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.