NEW YORK (TheStreet) -- Mueller Water Products (MWA) rose 6.95% to $8.93, up 58 cents from its previous close of $8.35, at the close of the trading day on Wednesday after the fire hydrant, pipe fitting and valve manufacturer announced first-quarter earnings that beat analysts' expectations.
Net sales increased to $257.4 million from $245.1 million in the same period a year ago. This beat analysts' revenue estimate of $256.25 million for the quarter.
The company also noted a decline in profits to $1.1 million, or one cent a share, from $7 million, or four cents a share, in the same period one year earlier. This just beat the expectations of analysts polled by Thomson Reuters, who expected Mueller to break even per share in the first quarter.
For more information on MWA's earnings, click here.
TheStreet Ratings team rates MUELLER WATER PRODUCTS INC as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate MUELLER WATER PRODUCTS INC (MWA) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth and compelling growth in net income. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."