Analysts Anticipate California Water Service Group (NYSE:CWT) to Announce $0.32 EPS

Wall Street brokerages forecast that California Water Service Group (NYSE:CWT) will report $0.32 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for California Water Service Group’s earnings. The highest EPS estimate is $0.33 and the lowest is $0.31. California Water Service Group also reported earnings of $0.32 per share during the same quarter last year. The business is expected to announce its next quarterly earnings report on Thursday, February 27th.

On average, analysts expect that California Water Service Group will report full-year earnings of $1.35 per share for the current year, with EPS estimates ranging from $1.25 to $1.40. For the next financial year, analysts expect that the company will report earnings of $1.56 per share, with EPS estimates ranging from $1.50 to $1.59. Zacks’ earnings per share calculations are a mean 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 announced its quarterly earnings results on Thursday, October 31st. The utilities provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $232.50 million for the quarter, compared to analysts’ expectations of $224.50 million. California Water Service Group had a net margin of 9.52% and a return on equity of 9.18%. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.72 EPS.

Separately, ValuEngine downgraded California Water Service Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $50.67.

In other California Water Service Group news, Director Peter C. Nelson sold 10,000 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $55.54, for a total transaction of $555,400.00. Following the sale, the director now owns 24,332 shares in the company, valued at $1,351,399.28. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard P. Magnuson sold 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $56.73, for a total value of $1,134,600.00. Following the sale, the director now owns 51,344 shares in the company, valued at approximately $2,912,745.12. The disclosure for this sale can be found here. Corporate insiders own 0.99% of the company’s stock.

Several large investors have recently bought and sold shares of the business. NumerixS Investment Technologies Inc bought a new stake in California Water Service Group in the second quarter valued at $30,000. Tower Research Capital LLC TRC bought a new stake in shares of California Water Service Group during the third quarter valued at about $35,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of California Water Service Group during the third quarter valued at about $40,000. BSW Wealth Partners bought a new stake in shares of California Water Service Group during the second quarter valued at about $41,000. Finally, Parallel Advisors LLC raised its stake in shares of California Water Service Group by 30.5% during the third quarter. Parallel Advisors LLC now owns 856 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Shares of CWT opened at $50.55 on Wednesday. The business’s 50-day moving average price is $53.80 and its 200 day moving average price is $52.47. The stock has a market capitalization of $2.58 billion, a P/E ratio of 37.17, a P/E/G ratio of 4.02 and a beta of 0.22. California Water Service Group has a 1-year low of $42.91 and a 1-year high of $57.48. The company has a current ratio of 0.63, a quick ratio of 0.61 and a debt-to-equity ratio of 1.07.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Monday, November 11th will be issued a $0.1975 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.79 dividend on an annualized basis and a yield of 1.56%. California Water Service Group’s dividend payout ratio is presently 58.09%.

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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Earnings History and Estimates for California Water Service Group (NYSE:CWT)

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