Why Xylem Stock Tumbled on Thursday
On the back of 's (NYSE: XYL) latest quarterly earnings report, investors eagerly traded out of the stock on the second-to-last trading day of the week. This news-fueled decline left the shares with a more than 6% price haircut at market close, notably worse than the almost 2% decrease of the S 500 (SNPINDEX: ^GSPC) index.
Xylem's third quarter saw the water technology specialist earn $2.1 billion in revenue, which was 1% higher on a year-over-year basis. Non-GAAP (generally accepted accounting principles) adjusted net income also inched up across that stretch, coming in at just under $244 million ($1.11 per share) from the year-ago profit of $242 million.
On average, analysts tracking Xylem's fortunes were expecting a slightly higher top line of $2.17 billion, while the company met their collective estimate of $1.11 per share for adjusted net income.
Source Fool.com
Xylem Inc. Stock
With 24 Buy predictions and not a single Sell prediction Xylem Inc. is an absolute favorite of our community.
As a result the target price of 140 € shows a positive potential of 34.64% compared to the current price of 103.98 € for Xylem Inc..
