California Water Service Group (CWT) Downgraded by Hilliard Lyons

Hilliard Lyons downgraded shares of California Water Service Group (NYSE:CWT) from a neutral rating to an underperform rating in a report released on Wednesday morning, MarketBeat Ratings reports.

Several other analysts have also recently commented on the stock. Zacks Investment Research raised shares of California Water Service Group from a sell rating to a hold rating in a research note on Tuesday, January 9th. Barclays increased their price target on shares of California Water Service Group from $30.00 to $32.00 and gave the company an underweight rating in a research note on Friday, September 22nd. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. California Water Service Group has an average rating of Hold and an average target price of $38.33.

California Water Service Group (CWT) traded up $1.05 during midday trading on Wednesday, hitting $43.80. 256,401 shares of the stock traded hands, compared to its average volume of 187,355. The firm has a market capitalization of $2,103.06, a price-to-earnings ratio of 30.85, a price-to-earnings-growth ratio of 5.14 and a beta of 0.74. The company has a current ratio of 0.47, a quick ratio of 0.46 and a debt-to-equity ratio of 0.76. California Water Service Group has a 12 month low of $32.75 and a 12 month high of $46.15.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data 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 company had revenue of $211.70 million during the quarter, compared to analyst estimates of $203.00 million. California Water Service Group had a net margin of 10.46% and a return on equity of 10.31%. The company’s revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the business posted $0.48 earnings per share. research analysts expect that California Water Service Group will post 1.33 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CWT. Legal & General Group Plc boosted its stake in California Water Service Group by 4.7% in the third quarter. Legal & General Group Plc now owns 228,710 shares of the utilities provider’s stock valued at $8,726,000 after acquiring an additional 10,220 shares during the last quarter. Wells Fargo & Company MN boosted its stake in California Water Service Group by 3.8% in the second quarter. Wells Fargo & Company MN now owns 129,126 shares of the utilities provider’s stock valued at $4,751,000 after acquiring an additional 4,668 shares during the last quarter. First Trust Advisors LP boosted its stake in California Water Service Group by 43.3% in the third quarter. First Trust Advisors LP now owns 211,895 shares of the utilities provider’s stock valued at $8,084,000 after acquiring an additional 64,015 shares during the last quarter. Piedmont Investment Advisors LLC boosted its stake in California Water Service Group by 250.9% in the third quarter. Piedmont Investment Advisors LLC now owns 36,391 shares of the utilities provider’s stock valued at $1,388,000 after acquiring an additional 26,019 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in California Water Service Group by 417.7% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 41,047 shares of the utilities provider’s stock valued at $1,566,000 after acquiring an additional 33,118 shares during the last quarter. 69.54% of the stock is currently owned by institutional investors and hedge funds.

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About California Water Service Group

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.

Analyst Recommendations for California Water Service Group (NYSE:CWT)

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