Zacks: Analysts Expect California Water Service Group Holding (CWT) to Post $0.26 Earnings Per Share

Wall Street brokerages forecast that California Water Service Group Holding (NYSE:CWT) will announce $0.26 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for California Water Service Group Holding’s earnings, with the highest EPS estimate coming in at $0.30 and the lowest estimate coming in at $0.21. California Water Service Group Holding reported earnings of $0.31 per share during the same quarter last year, which suggests a negative year over year growth rate of 16.1%. The firm is expected to report its next quarterly earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that California Water Service Group Holding will report full-year earnings of $1.33 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.39. For the next financial year, analysts forecast that the business will post earnings of $1.43 per share, with EPS estimates ranging from $1.40 to $1.47. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow California Water Service Group Holding.

California Water Service Group Holding (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The business had revenue of $211.70 million for the quarter, compared to analysts’ expectations of $203.00 million. California Water Service Group Holding had a net margin of 10.46% and a return on equity of 10.31%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.48 EPS.

Several brokerages have recently weighed in on CWT. Zacks Investment Research upgraded shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $43.00 price target on the stock in a research note on Friday, July 28th. BidaskClub cut shares of California Water Service Group Holding from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Barclays PLC lifted their price target on shares of California Water Service Group Holding from $30.00 to $32.00 and gave the stock an “underweight” rating in a research note on Friday, September 22nd. Finally, Robert W. Baird reiterated a “hold” rating and set a $35.00 price target on shares of California Water Service Group Holding in a research note on Sunday, September 3rd. Two research analysts have rated the stock with a sell rating and seven have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus price target of $36.75.

In related news, VP Lynne P. Mcghee sold 1,605 shares of California Water Service Group Holding stock in a transaction on Friday, September 8th. The shares were sold at an average price of $37.61, for a total transaction of $60,364.05. Following the transaction, the vice president now owns 19,660 shares in the company, valued at approximately $739,412.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Lynne P. Mcghee sold 1,079 shares of California Water Service Group Holding stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $36.94, for a total transaction of $39,858.26. Following the transaction, the vice president now owns 18,581 shares in the company, valued at approximately $686,382.14. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWT. Nuance Investments LLC lifted its stake in shares of California Water Service Group Holding by 106.1% during the 3rd quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock valued at $25,250,000 after buying an additional 340,789 shares in the last quarter. State Street Corp increased its holdings in California Water Service Group Holding by 7.2% in the 1st quarter. State Street Corp now owns 1,215,362 shares of the utilities provider’s stock valued at $43,575,000 after acquiring an additional 82,143 shares during the last quarter. Impax Asset Management LTD increased its holdings in California Water Service Group Holding by 4.0% in the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after acquiring an additional 73,467 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in California Water Service Group Holding by 27.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 330,104 shares of the utilities provider’s stock valued at $12,147,000 after acquiring an additional 71,424 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in California Water Service Group Holding by 299.5% in the 2nd quarter. Forsta AP Fonden now owns 87,500 shares of the utilities provider’s stock valued at $3,220,000 after acquiring an additional 65,600 shares during the last quarter. Institutional investors own 68.14% of the company’s stock.

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California Water Service Group Holding (NYSE:CWT) opened at $44.10 on Friday. The firm has a market cap of $2,117.46, a price-to-earnings ratio of 31.06, a PEG ratio of 6.04 and a beta of 0.72. California Water Service Group Holding has a one year low of $32.45 and a one year high of $44.30. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.47.

The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date was Friday, November 3rd. California Water Service Group Holding’s dividend payout ratio (DPR) is 50.70%.

California Water Service Group Holding Company Profile

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

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