SJW Group (NYSE:SJW) to Post FY2023 Earnings of $2.54 Per Share, Seaport Res Ptn Forecasts

SJW Group (NYSE:SJWGet Rating) – Stock analysts at Seaport Res Ptn dropped their FY2023 EPS estimates for SJW Group in a note issued to investors on Tuesday, May 10th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $2.54 for the year, down from their previous estimate of $2.56. Seaport Res Ptn has a “Buy” rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Barclays increased their price objective on shares of SJW Group from $70.00 to $73.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 15th. StockNews.com started coverage on shares of SJW Group in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut shares of SJW Group from a “hold” rating to a “sell” rating in a research report on Wednesday, March 30th. Finally, JPMorgan Chase & Co. raised shares of SJW Group from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Monday, May 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, SJW Group currently has a consensus rating of “Hold” and an average target price of $72.50.

Shares of NYSE SJW opened at $59.42 on Thursday. The company has a 50 day simple moving average of $65.19 and a 200-day simple moving average of $67.46. The company has a market capitalization of $1.80 billion, a P/E ratio of 28.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.63 and a quick ratio of 0.66. SJW Group has a 1 year low of $57.17 and a 1 year high of $73.69.

SJW Group (NYSE:SJWGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. SJW Group had a net margin of 10.56% and a return on equity of 5.21%. During the same quarter in the prior year, the company posted $0.12 earnings per share.

A number of hedge funds have recently modified their holdings of SJW. UMB Bank N A MO purchased a new position in SJW Group in the 4th quarter valued at approximately $44,000. Kepos Capital LP purchased a new position in SJW Group in the 4th quarter valued at approximately $92,000. Advisor Group Holdings Inc. boosted its position in SJW Group by 55.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 1,385 shares of the utilities provider’s stock valued at $96,000 after buying an additional 496 shares during the period. D.A. Davidson & CO. purchased a new position in SJW Group in the 4th quarter valued at approximately $200,000. Finally, MQS Management LLC purchased a new position in SJW Group in the 1st quarter valued at approximately $207,000. 77.21% of the stock is owned by institutional investors.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 9th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 6th. This represents a $1.44 annualized dividend and a yield of 2.42%. SJW Group’s dividend payout ratio is presently 70.24%.

About SJW Group (Get Rating)

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.

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Earnings History and Estimates for SJW Group (NYSE:SJW)

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