Badger Meter shares soar after quarterly numbers beat the street

Badger Meter

18/04/2024 16:30

** Shares in Badger Meter  BMI.N  up 12.4% at $172 on Thursday
hitting a record high of $174.88 and on track for biggest
one-day pct change since March 2020 after Q1 EPS, rev beat Wall
Street expectations
    ** The co, which makes products for measurements including
flow and quality of water and other fluids, reported adj EPS of
$0.99 compared with Wall St mean expectation for $0.82 while its
rev of $196.28 mln beat consensus estimate of $182.26 as per
latest data from LSEG, which shows coverage by just 5 analysts
    ** BMI cautioned it faces more difficult prior year
comparisons as the year progresses but said it has confidence in
its end markets
    ** Median PT for BMI is $151 per LSEG, which shows 1 'strong
buy' analyst rating, 1 'buy' rating and 3 'hold' ratings
    ** YTD shares in BMI last up ~11% vs 4.8% gain for S&P 1500
index  .SPCOMP  and the 10.1% fall in the S&P 600 tech sector
 .SPSMCT  
         







 (Reporting By Sinéad Carew)
 ((sinead.carew@thomsonreuters.com; +13322191897;))