WBI (NYSE:WBI) Posts Quarterly Earnings Results

WBI (NYSE:WBI) issued its quarterly earnings results on Wednesday. The company reported $0.10 EPS for the quarter, FiscalAI reports. The business had revenue of $217.77 million during the quarter.

WBI Trading Up 0.2%

NYSE WBI traded up $0.06 during mid-day trading on Friday, hitting $32.77. The company’s stock had a trading volume of 103,936 shares, compared to its average volume of 963,237. The firm has a market capitalization of $4.05 billion and a P/E ratio of 131.06. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.30 and a quick ratio of 1.30. WBI has a 52-week low of $18.64 and a 52-week high of $36.89. The stock’s fifty day simple moving average is $32.34 and its two-hundred day simple moving average is $28.30.

WBI Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Thursday, August 27th. WBI’s payout ratio is currently 80.00%.

Insider Activity

In other WBI news, major shareholder Wbr Holdings Llc sold 5,894,826 shares of WBI stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $177,139,521.30. Following the completion of the transaction, the insider owned 1,980,921 shares of the company’s stock, valued at $59,526,676.05. The trade was a 74.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Waterbridge Resources Llc sold 5,894,826 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $30.05, for a total value of $177,139,521.30. Following the transaction, the insider owned 1,980,921 shares of the company’s stock, valued at $59,526,676.05. This represents a 74.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 19,439,652 shares of company stock valued at $584,161,543 in the last 90 days. Company insiders own 50.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WBI. The Goldman Sachs Group lifted their price objective on WBI from $36.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, July 15th. Morgan Stanley raised their target price on shares of WBI from $34.00 to $38.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. Wall Street Zen raised WBI from a “sell” rating to a “hold” rating in a report on Sunday, July 12th. Barclays upped their price objective on shares of WBI from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, May 21st. Finally, Weiss Ratings upgraded WBI from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $34.20.

About WBI

WaterBridge Infrastructure LLC is an integrated, pure-play water infrastructure company. WaterBridge Infrastructure LLC is based in HOUSTON.