Wall Street brokerages predict that California Water Service Group (NYSE:CWT) will post sales of $163.85 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for California Water Service Group’s earnings. The highest sales estimate is $168.00 million and the lowest is $159.70 million. California Water Service Group reported sales of $161.99 million in the same quarter last year, which would indicate a positive year over year growth rate of 1.1%. The firm is expected to report its next earnings report on Thursday, March 7th.
According to Zacks, analysts expect that California Water Service Group will report full year sales of $684.68 million for the current financial year, with estimates ranging from $678.45 million to $692.00 million. For the next year, analysts anticipate that the firm will report sales of $710.87 million, with estimates ranging from $705.50 million to $714.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for California Water Service Group.
California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. California Water Service Group had a net margin of 8.54% and a return on equity of 8.44%. The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $249.64 million. During the same period last year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis.
A number of brokerages have commented on CWT. Zacks Investment Research cut shares of California Water Service Group from a “hold” rating to a “sell” rating in a research report on Monday, November 5th. Evercore ISI began coverage on shares of California Water Service Group in a research report on Monday, September 17th. They set an “in-line” rating and a $42.00 price target on the stock. Finally, Wells Fargo & Co assumed coverage on shares of California Water Service Group in a research report on Monday, August 27th. They set a “market perform” rating on the stock. Two 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’s stock. California Water Service Group has an average rating of “Hold” and an average price target of $39.67.
In other news, VP David B. Healey sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $41.76, for a total value of $41,760.00. Following the transaction, the vice president now owns 14,492 shares in the company, valued at $605,185.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by company insiders.
Institutional investors have recently modified their holdings of the company. FMR LLC bought a new position in shares of California Water Service Group in the third quarter worth approximately $110,000. Steward Partners Investment Advisory LLC bought a new position in shares of California Water Service Group in the second quarter worth approximately $156,000. North Point Portfolio Managers Corp OH bought a new position in shares of California Water Service Group in the third quarter worth approximately $202,000. Mission Wealth Management LP bought a new position in shares of California Water Service Group in the third quarter worth approximately $213,000. Finally, Wellington Shields & Co. LLC bought a new position in shares of California Water Service Group in the third quarter worth approximately $214,000. Hedge funds and other institutional investors own 72.16% of the company’s stock.
NYSE CWT traded up $0.17 on Wednesday, reaching $44.21. 148,979 shares of the company’s stock traded hands, compared to its average volume of 264,485. 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 1.00, a current ratio of 0.62 and a quick ratio of 0.60. The stock has a market capitalization of $2.16 billion, a P/E ratio of 31.58, a PEG ratio of 5.26 and a beta of 0.50.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 23rd. Stockholders of record on Monday, November 12th will be issued a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, November 8th. California Water Service Group’s dividend payout ratio is 53.57%.
California Water Service Group Company Profile
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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