Zacks: Analysts Anticipate Connecticut Water Service Inc (CTWS) to Announce $0.16 Earnings Per Share

Brokerages expect that Connecticut Water Service Inc (NASDAQ:CTWS) will report $0.16 earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for Connecticut Water Service’s earnings. Connecticut Water Service reported earnings per share of $0.27 in the same quarter last year, which would suggest a negative year-over-year growth rate of 40.7%. The firm is expected to announce its next earnings report on Thursday, March 21st.

On average, analysts expect that Connecticut Water Service will report full-year earnings of $2.23 per share for the current fiscal year. For the next year, analysts forecast that the firm will report earnings of $2.33 per share. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Connecticut Water Service.

Connecticut Water Service (NASDAQ:CTWS) last released its earnings results on Friday, November 9th. The utilities provider reported $1.31 earnings per share for the quarter. Connecticut Water Service had a return on equity of 7.74% and a net margin of 14.73%. The firm had revenue of $39.30 million for the quarter.



Several equities research analysts have weighed in on CTWS shares. BidaskClub cut shares of Connecticut Water Service from a “buy” rating to a “hold” rating in a research report on Friday, November 2nd. Wells Fargo & Co began coverage on Connecticut Water Service in a report on Thursday, January 10th. They issued a “market perform” rating and a $66.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $62.00.

NASDAQ CTWS traded down $0.01 during trading hours on Wednesday, hitting $68.01. 684 shares of the company’s stock were exchanged, compared to its average volume of 29,472. Connecticut Water Service has a 12-month low of $48.86 and a 12-month high of $70.30. The company has a market capitalization of $819.64 million, a PE ratio of 30.10 and a beta of -0.03. The company has a current ratio of 0.61, a quick ratio of 0.59 and a debt-to-equity ratio of 0.84.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Friday, March 1st will be paid a $0.313 dividend. The ex-dividend date is Thursday, February 28th. This is an increase from Connecticut Water Service’s previous quarterly dividend of $0.31. This represents a $1.25 dividend on an annualized basis and a dividend yield of 1.84%. Connecticut Water Service’s dividend payout ratio (DPR) is 55.31%.

A number of hedge funds have recently bought and sold shares of CTWS. MetLife Investment Advisors LLC increased its position in shares of Connecticut Water Service by 22.8% during the 3rd quarter. MetLife Investment Advisors LLC now owns 8,045 shares of the utilities provider’s stock worth $558,000 after purchasing an additional 1,493 shares during the last quarter. SRS Capital Advisors Inc. acquired a new stake in shares of Connecticut Water Service during the 3rd quarter worth about $194,000. Northern Trust Corp increased its position in shares of Connecticut Water Service by 1.8% during the 2nd quarter. Northern Trust Corp now owns 161,847 shares of the utilities provider’s stock worth $10,572,000 after purchasing an additional 2,827 shares during the last quarter. Morgan Stanley increased its position in shares of Connecticut Water Service by 163.3% during the 3rd quarter. Morgan Stanley now owns 203,187 shares of the utilities provider’s stock worth $14,096,000 after purchasing an additional 126,015 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Connecticut Water Service by 7.3% during the 3rd quarter. Renaissance Technologies LLC now owns 221,200 shares of the utilities provider’s stock worth $15,345,000 after purchasing an additional 15,000 shares during the last quarter. 47.99% of the stock is owned by institutional investors.

Connecticut Water Service Company Profile

Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water. The Real Estate Transactions segment is involved in the sale or donation of its real estate holdings.

Recommended Story: Preferred Stock

Get a free copy of the Zacks research report on Connecticut Water Service (CTWS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Connecticut Water Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Connecticut Water Service and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply