Other equities analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of California Water Service Group from a hold rating to a sell rating in a research note on Monday, July 30th. ValuEngine downgraded shares of California Water Service Group from a buy rating to a hold rating in a research note on Wednesday, June 6th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $38.40.
Shares of NYSE:CWT opened at $40.90 on Monday. The stock has a market cap of $1.96 billion, a P/E ratio of 29.07 and a beta of 0.61. California Water Service Group has a 12 month low of $35.25 and a 12 month high of $46.15. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.29 and a current ratio of 0.30.
California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, July 26th. The utilities provider reported $0.27 EPS for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.08). The company had revenue of $172.63 million during the quarter, compared to the consensus estimate of $172.30 million. California Water Service Group had a return on equity of 8.44% and a net margin of 8.55%. California Water Service Group’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. equities analysts forecast that California Water Service Group will post 1.27 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Monday, August 6th were paid a $0.1875 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.75 dividend on an annualized basis and a yield of 1.83%. California Water Service Group’s dividend payout ratio is currently 53.57%.
A number of hedge funds have recently modified their holdings of the business. Steward Partners Investment Advisory LLC purchased a new stake in shares of California Water Service Group in the 2nd quarter worth approximately $156,000. SG Americas Securities LLC purchased a new stake in shares of California Water Service Group in the 1st quarter worth approximately $199,000. PEAK6 Investments L.P. lifted its position in shares of California Water Service Group by 147.4% in the 2nd quarter. PEAK6 Investments L.P. now owns 5,468 shares of the utilities provider’s stock worth $213,000 after purchasing an additional 17,000 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of California Water Service Group in the 2nd quarter worth approximately $229,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of California Water Service Group in the 1st quarter worth approximately $265,000. Institutional investors and hedge funds own 71.97% of the company’s stock.
About California Water Service Group
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.
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