SJW Group (NYSE:SJW) Issues FY24 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY24 earnings guidance on Friday. The company provided EPS guidance of $2.68-2.78 for the period, compared to the consensus EPS estimate of $2.76. SJW Group also updated its FY 2024 guidance to 2.680-2.780 EPS.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SJW. StockNews.com upgraded shares of SJW Group from a sell rating to a hold rating in a report on Friday. Wells Fargo & Company raised their price target on shares of SJW Group from $61.00 to $62.00 and gave the company an equal weight rating in a report on Friday, February 23rd. Finally, Seaport Res Ptn upgraded shares of SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, SJW Group currently has a consensus rating of Hold and an average target price of $66.00.

SJW Group Stock Down 2.4 %

SJW stock opened at $53.50 on Friday. The firm has a 50 day moving average of $55.82 and a 200 day moving average of $60.54. The stock has a market capitalization of $1.72 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.59 and a beta of 0.58. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.24. SJW Group has a 52 week low of $51.37 and a 52 week high of $78.42.

SJW Group (NYSE:SJW) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 EPS for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The company had revenue of $171.34 million during the quarter, compared to analyst estimates of $161.23 million. SJW Group had a return on equity of 7.03% and a net margin of 12.48%. During the same quarter last year, the business earned $1.09 earnings per share. Sell-side analysts forecast that SJW Group will post 2.75 earnings per share for the current year.

SJW Group Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s dividend payout ratio is presently 60.15%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.