Equities Analysts Issue Forecasts for Mueller Water Products, Inc.’s Q3 2023 Earnings (NYSE:MWA)

Mueller Water Products, Inc. (NYSE:MWA – Get Rating) – Seaport Res Ptn raised their Q3 2023 earnings per share estimates for Mueller Water Products in a note issued to investors on Monday, May 22nd. Seaport Res Ptn analyst W. Liptak now anticipates that the industrial products company will post earnings per share of $0.19 for the quarter, up from their prior estimate of $0.18. Seaport Res Ptn currently has a “Buy” rating on the stock. The consensus estimate for Mueller Water Products’ current full-year earnings is $0.67 per share. Seaport Res Ptn also issued estimates for Mueller Water Products’ Q4 2023 earnings at $0.20 EPS.

Mueller Water Products (NYSE:MWA – Get Rating) last announced its quarterly earnings results on Monday, May 8th. The industrial products company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $332.90 million for the quarter, compared to analysts’ expectations of $332.45 million. Mueller Water Products had a net margin of 5.90% and a return on equity of 12.69%. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.15 EPS.

Several other research analysts also recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Mueller Water Products from $11.00 to $13.00 and gave the company a “neutral” rating in a report on Monday, February 6th. StockNews.com initiated coverage on shares of Mueller Water Products in a report on Thursday, May 18th. They set a “hold” rating for the company. TD Cowen raised shares of Mueller Water Products from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.00 to $19.00 in a report on Friday, May 5th. TheStreet raised shares of Mueller Water Products from a “c+” rating to a “b” rating in a report on Friday, February 3rd. Finally, DA Davidson reaffirmed a “neutral” rating on shares of Mueller Water Products in a report on Wednesday, May 10th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $13.57.

Mueller Water Products Price Performance

Shares of MWA opened at $13.52 on Wednesday. The firm has a market cap of $2.11 billion, a PE ratio of 27.04, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a current ratio of 3.50, a quick ratio of 1.82 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $13.52 and a two-hundred day simple moving average of $12.67. Mueller Water Products has a 1-year low of $9.90 and a 1-year high of $14.98.

Mueller Water Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Wednesday, May 10th were given a $0.061 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, May 9th. Mueller Water Products’s dividend payout ratio (DPR) is currently 48.00%.

Hedge Funds Weigh In On Mueller Water Products

Institutional investors have recently modified their holdings of the stock. TCI Wealth Advisors Inc. purchased a new position in shares of Mueller Water Products during the third quarter worth approximately $27,000. Bessemer Group Inc. boosted its stake in shares of Mueller Water Products by 409.9% during the first quarter. Bessemer Group Inc. now owns 3,156 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 2,537 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Mueller Water Products during the first quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its stake in shares of Mueller Water Products by 132.1% during the first quarter. Tower Research Capital LLC TRC now owns 3,291 shares of the industrial products company’s stock valued at $46,000 after purchasing an additional 1,873 shares in the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Mueller Water Products during the first quarter valued at approximately $53,000. 88.75% of the stock is owned by hedge funds and other institutional investors.

Mueller Water Products Company Profile

(Get Rating)

Mueller Water Products, Inc engages in the manufacture and sale of products used in the transmission, distribution, and measurement of water. It operates through the Water Flow Solutions and Water Management Solutions segments. The Water Flow Solutions segment includes iron gate valves, specialty valves, and service brass products.