Zacks: Analysts Expect California Water Service Group (NYSE:CWT) Will Announce Quarterly Sales of $171.35 Million

Wall Street analysts predict that California Water Service Group (NYSE:CWT) will post $171.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for California Water Service Group’s earnings. The highest sales estimate is $172.00 million and the lowest is $170.70 million. California Water Service Group posted sales of $167.42 million in the same quarter last year, which would indicate a positive year over year growth rate of 2.3%. The firm is scheduled to announce its next earnings report on Thursday, February 27th.

According to Zacks, analysts expect that California Water Service Group will report full year sales of $709.20 million for the current year, with estimates ranging from $708.40 million to $710.00 million. For the next year, analysts forecast that the company will post sales of $737.35 million, with estimates ranging from $735.70 million to $739.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for California Water Service Group.

California Water Service Group (NYSE:CWT) last released its earnings results on Thursday, October 31st. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.09. California Water Service Group had a return on equity of 9.18% and a net margin of 9.52%. The company had revenue of $232.50 million for the quarter, compared to analyst estimates of $224.50 million. During the same period in the prior year, the firm posted $0.72 EPS. California Water Service Group’s quarterly revenue was up 6.2% on a year-over-year basis.

Separately, ValuEngine downgraded shares of California Water Service Group from a “buy” rating to a “hold” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $50.67.

In other California Water Service Group news, Director Peter C. Nelson sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $49.56, for a total transaction of $495,600.00. Following the completion of the transaction, the director now directly owns 14,283 shares in the company, valued at $707,865.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.99% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC grew its position 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 worth $45,000 after acquiring an additional 200 shares during the last quarter. Meeder Asset Management Inc. lifted its position in California Water Service Group by 18.7% in the 2nd quarter. Meeder Asset Management Inc. now owns 1,335 shares of the utilities provider’s stock worth $67,000 after buying an additional 210 shares in the last quarter. First National Corp MA ADV boosted its stake in shares of California Water Service Group by 0.7% during the 3rd quarter. First National Corp MA ADV now owns 32,976 shares of the utilities provider’s stock valued at $1,745,000 after buying an additional 226 shares during the period. Mason Street Advisors LLC boosted its stake in shares of California Water Service Group by 1.7% during the 3rd quarter. Mason Street Advisors LLC now owns 16,346 shares of the utilities provider’s stock valued at $865,000 after buying an additional 279 shares during the period. Finally, Man Group plc grew its holdings in shares of California Water Service Group by 3.2% during the 2nd quarter. Man Group plc now owns 9,019 shares of the utilities provider’s stock valued at $457,000 after acquiring an additional 282 shares in the last quarter. 74.62% of the stock is currently owned by institutional investors.

CWT stock traded up $0.58 during midday trading on Friday, reaching $51.59. The company had a trading volume of 4,505 shares, compared to its average volume of 233,757. California Water Service Group has a 1-year low of $43.38 and a 1-year high of $57.48. The stock has a 50 day moving average price of $52.58 and a 200-day moving average price of $52.55. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.63 and a quick ratio of 0.61. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 37.97, a price-to-earnings-growth ratio of 3.81 and a beta of 0.20.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Monday, November 11th were paid a $0.1975 dividend. The ex-dividend date was Thursday, November 7th. This represents a $0.79 dividend on an annualized basis and a yield of 1.53%. California Water Service Group’s dividend payout ratio (DPR) is 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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