Zacks: Analysts Anticipate California Water Service Group (CWT) Will Post Quarterly Sales of $163.85 Million

Share on StockTwits

Equities analysts expect California Water Service Group (NYSE:CWT) to announce sales of $163.85 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for California Water Service Group’s earnings, with estimates ranging from $159.70 million to $168.00 million. California Water Service Group posted 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 business is expected to announce its next earnings results 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 fiscal year, with estimates ranging from $678.45 million to $692.00 million. For the next fiscal year, analysts forecast that the firm will post sales of $710.87 million, with estimates ranging from $705.50 million to $714.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for California Water Service Group.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.72 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.72. The business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $249.64 million. California Water Service Group had a return on equity of 8.44% and a net margin of 8.54%. The business’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.70 earnings per share.

A number of brokerages have recently issued reports on CWT. Zacks Investment Research raised California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, January 3rd. Robert W. Baird raised California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, December 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.20.

Shares of NYSE:CWT traded up $0.46 during trading on Tuesday, reaching $47.24. The stock had a trading volume of 193,756 shares, compared to its average volume of 188,804. 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 firm has a market capitalization of $2.21 billion, a PE ratio of 33.74, a P/E/G ratio of 4.64 and a beta of 0.38. California Water Service Group has a 1-year low of $35.25 and a 1-year high of $49.07.

In other news, VP David B. Healey sold 1,000 shares of the company’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $45.18, for a total value of $45,180.00. Following the transaction, the vice president now owns 13,492 shares of the company’s stock, valued at approximately $609,568.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Several institutional investors have recently made changes to their positions in CWT. CENTRAL TRUST Co increased its holdings in California Water Service Group by 100.0% during the 4th quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 304 shares during the period. Teachers Advisors LLC increased its holdings in California Water Service Group by 1.3% during the 3rd quarter. Teachers Advisors LLC now owns 93,064 shares of the utilities provider’s stock worth $3,992,000 after purchasing an additional 1,232 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in California Water Service Group by 12.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,476 shares of the utilities provider’s stock worth $492,000 after purchasing an additional 1,307 shares during the period. US Bancorp DE increased its holdings in California Water Service Group by 23.3% during the 2nd quarter. US Bancorp DE now owns 7,582 shares of the utilities provider’s stock worth $295,000 after purchasing an additional 1,432 shares during the period. Finally, Janney Montgomery Scott LLC increased its holdings in California Water Service Group by 26.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 7,470 shares of the utilities provider’s stock worth $320,000 after purchasing an additional 1,583 shares during the period. 72.33% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Earnings Per Share

Get a free copy of the Zacks research report on California Water Service Group (CWT)

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

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

Leave a Reply