What is Seaport Res Ptn’s Forecast for CWT FY2028 Earnings?

California Water Service Group (NYSE:CWT) – Equities researchers at Seaport Res Ptn reduced their FY2028 EPS estimates for California Water Service Group in a research note issued on Monday, November 3rd. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $2.69 per share for the year, down from their previous forecast of $3.05. The consensus estimate for California Water Service Group’s current full-year earnings is $3.15 per share.

CWT has been the subject of a number of other reports. Wall Street Zen raised California Water Service Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Robert W. Baird set a $55.00 price target on California Water Service Group in a research report on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of California Water Service Group in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their target price on California Water Service Group from $59.00 to $55.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, California Water Service Group currently has an average rating of “Buy” and a consensus target price of $55.67.

California Water Service Group Trading Up 4.8%

NYSE:CWT opened at $47.11 on Wednesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.50 and a current ratio of 0.53. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 2.25 and a beta of 0.68. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $52.71. The firm has a 50-day moving average price of $46.66 and a two-hundred day moving average price of $46.77.

California Water Service Group (NYSE:CWT) last announced its earnings results on Thursday, October 30th. The utilities provider reported $1.03 EPS for the quarter, missing the consensus estimate of $1.20 by ($0.17). The firm had revenue of $311.24 million during the quarter, compared to analysts’ expectations of $321.35 million. California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The business’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS.

Institutional Investors Weigh In On California Water Service Group

Large investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its stake in California Water Service Group by 3,318.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 547 shares of the utilities provider’s stock valued at $25,000 after buying an additional 531 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of California Water Service Group by 109.9% in the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 365 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of California Water Service Group in the first quarter valued at $34,000. Whittier Trust Co. purchased a new position in shares of California Water Service Group in the second quarter valued at $36,000. Finally, Hantz Financial Services Inc. grew its position in shares of California Water Service Group by 291.1% in the third quarter. Hantz Financial Services Inc. now owns 880 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 655 shares in the last quarter. Hedge funds and other institutional investors own 82.78% of the company’s stock.

California Water Service Group Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Monday, November 10th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, November 10th. California Water Service Group’s dividend payout ratio (DPR) is currently 52.40%.

California Water Service Group Company Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.