Zacks: Brokerages Anticipate Chesapeake Utilities Co. (CPK) to Post $1.34 Earnings Per Share

Brokerages expect Chesapeake Utilities Co. (NYSE:CPK) to announce earnings per share (EPS) of $1.34 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Chesapeake Utilities’ earnings, with the lowest EPS estimate coming in at $1.30 and the highest estimate coming in at $1.38. Chesapeake Utilities reported earnings per share of $1.17 in the same quarter last year, which suggests a positive year over year growth rate of 14.5%. The business is expected to announce its next earnings report on Wednesday, May 2nd.

On average, analysts expect that Chesapeake Utilities will report full-year earnings of $3.44 per share for the current fiscal year, with EPS estimates ranging from $3.40 to $3.50. For the next fiscal year, analysts expect that the firm will post earnings of $3.77 per share, with EPS estimates ranging from $3.65 to $3.95. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Chesapeake Utilities.

How to Become a New Pot Stock Millionaire

Chesapeake Utilities (NYSE:CPK) last announced its earnings results on Wednesday, February 28th. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.04. The company had revenue of $180.40 million for the quarter, compared to analyst estimates of $147.85 million. Chesapeake Utilities had a return on equity of 10.10% and a net margin of 9.41%.

Several analysts have weighed in on the company. Zacks Investment Research downgraded Chesapeake Utilities from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Seaport Global Securities reiterated a “neutral” rating on shares of Chesapeake Utilities in a research note on Monday, March 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $83.33.

In other Chesapeake Utilities news, insider John R. Schimkaitis sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $76.65, for a total transaction of $191,625.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas P. Hill, Jr. purchased 1,000 shares of the company’s stock in a transaction on Thursday, December 21st. The shares were purchased at an average price of $75.62 per share, for a total transaction of $75,620.00. The disclosure for this purchase can be found here. 4.16% of the stock is currently owned by insiders.

Institutional investors have recently bought and sold shares of the business. New Amsterdam Partners LLC NY purchased a new stake in shares of Chesapeake Utilities in the fourth quarter worth about $4,935,000. Millennium Management LLC purchased a new stake in shares of Chesapeake Utilities in the fourth quarter worth about $4,699,000. BlackRock Inc. boosted its stake in shares of Chesapeake Utilities by 3.5% in the fourth quarter. BlackRock Inc. now owns 1,020,450 shares of the utilities provider’s stock worth $80,158,000 after buying an additional 34,339 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Chesapeake Utilities by 64.3% in the fourth quarter. Wells Fargo & Company MN now owns 81,821 shares of the utilities provider’s stock worth $6,428,000 after buying an additional 32,018 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in shares of Chesapeake Utilities by 9.6% in the fourth quarter. William Blair Investment Management LLC now owns 332,218 shares of the utilities provider’s stock worth $26,096,000 after buying an additional 29,037 shares during the last quarter. Institutional investors and hedge funds own 62.34% of the company’s stock.

Chesapeake Utilities (NYSE:CPK) traded down $0.35 during trading on Tuesday, reaching $70.50. The company’s stock had a trading volume of 21,509 shares, compared to its average volume of 71,642. The company has a current ratio of 0.43, a quick ratio of 0.38 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1,142.48, a P/E ratio of 19.82, a PEG ratio of 3.39 and a beta of 0.26. Chesapeake Utilities has a twelve month low of $66.25 and a twelve month high of $86.35.

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 5th. Shareholders of record on Thursday, March 15th will be paid a dividend of $0.325 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.30 annualized dividend and a yield of 1.84%. Chesapeake Utilities’s payout ratio is presently 36.62%.

TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Anticipate Chesapeake Utilities Co. (CPK) to Post $1.34 Earnings Per Share” was originally published by Markets Daily and is the property of of Markets Daily. If you are viewing this news story on another domain, it was illegally copied and republished in violation of U.S. and international copyright & trademark laws. The legal version of this news story can be accessed at https://www.themarketsdaily.com/2018/03/13/zacks-brokerages-anticipate-chesapeake-utilities-co-cpk-to-post-1-34-earnings-per-share.html.

About Chesapeake Utilities

Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.

Get a free copy of the Zacks research report on Chesapeake Utilities (CPK)

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

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

Leave a Reply