$138.65 Million in Sales Expected for California Water Service Group (CWT) This Quarter

Equities research analysts predict that California Water Service Group (NYSE:CWT) will post sales of $138.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for California Water Service Group’s earnings, with the lowest sales estimate coming in at $136.00 million and the highest estimate coming in at $141.30 million. California Water Service Group reported sales of $132.25 million in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The business is expected to announce its next earnings report before the market opens on Thursday, April 25th.

On average, analysts expect that California Water Service Group will report full year sales of $715.77 million for the current year, with estimates ranging from $705.30 million to $730.00 million. For the next fiscal year, analysts anticipate that the business will post sales of $747.00 million, with estimates ranging from $733.00 million to $773.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow California Water Service Group.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings results on Thursday, February 28th. The utilities provider reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The business had revenue of $167.42 million during the quarter, compared to analysts’ expectations of $163.45 million. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.31 EPS.

Several brokerages have weighed in on CWT. Wells Fargo & Co cut shares of California Water Service Group from a “market perform” rating to an “underperform” rating and set a $50.00 price target for the company. in a research report on Tuesday, March 26th. They noted that the move was a valuation call. Zacks Investment Research raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Finally, ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $48.50.

CWT traded up $0.72 during trading on Wednesday, hitting $50.15. 204,961 shares of the stock traded hands, compared to its average volume of 199,605. The stock has a market capitalization of $2.41 billion, a P/E ratio of 36.88, a PEG ratio of 5.13 and a beta of 0.40. The company has a quick ratio of 0.57, a current ratio of 0.59 and a debt-to-equity ratio of 0.97. California Water Service Group has a 12-month low of $37.70 and a 12-month high of $55.05.

In related news, Director Lester A. Snow sold 1,000 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $53.69, for a total value of $53,690.00. Following the completion of the transaction, the director now directly owns 18,195 shares in the company, valued at approximately $976,889.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the stock. Massey Quick Simon & CO. LLC bought a new position in shares of California Water Service Group in the 1st quarter worth about $27,000. CENTRAL TRUST Co increased its stake in shares of California Water Service Group by 100.0% in the 4th quarter. CENTRAL TRUST Co now owns 608 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 304 shares in the last quarter. Advisors Asset Management Inc. increased its stake in California Water Service Group by 47.5% during the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 209 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in California Water Service Group by 1,700.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 756 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 714 shares in the last quarter. Finally, Pinnacle Bank bought a new stake in California Water Service Group during the 4th quarter valued at about $38,000. Institutional investors own 73.41% of the company’s stock.

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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