Badger Meter (NYSE:BMI) on Thursday reported better-than-expected third-quarter earnings.
Badger Meter reported quarterly earnings of $1.24 per share which beat the analyst consensus estimate of $1.23 per share. The company reported quarterly sales of $235.938 million which missed the analyst consensus estimate of $240.419 million.
“We were pleased with our third quarter financial results delivering continued sequential sales and operating profit improvement,” said Kenneth C. Bockhorst, Chairman, President and Chief Executive Officer. “Consistent with our expectations, third quarter sales reflected the ongoing ramp of awarded utility water projects as well as solid underlying demand trends. I want to thank our employees across the globe for their commitment, contributions and ongoing customer focus.”
Badger Meter shares closed at $149.64 on Thursday.
These analysts made changes to their price targets on Badger Meter following earnings announcement.
- Stifel analyst Nathan Jones maintained the stock with a Buy and raised the price target from $150 to $168.
- Barclays analyst William Grippin maintained the stock with an Underweight rating and raised the price target from $111 to $112.
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