California Water Service Group (CWT) Scheduled to Post Earnings on Thursday

California Water Service Group (NYSE:CWT) is scheduled to release its earnings data before the market opens on Thursday, April 25th. Analysts expect California Water Service Group to post earnings of $0.21 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, February 29th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.50 by ($0.98). The business had revenue of $214.50 million during the quarter, compared to analyst estimates of $269.41 million. California Water Service Group had a net margin of 6.53% and a return on equity of 3.75%. The firm’s revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect California Water Service Group to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

California Water Service Group Trading Up 0.9 %

NYSE CWT opened at $44.18 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.69 and a quick ratio of 0.65. The stock’s 50-day moving average is $46.18 and its 200-day moving average is $48.37. California Water Service Group has a one year low of $43.50 and a one year high of $59.64. The firm has a market cap of $2.55 billion, a P/E ratio of 49.64 and a beta of 0.49.

California Water Service Group Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Monday, February 12th were issued a dividend of $1.12 per share. This is an increase from California Water Service Group’s previous quarterly dividend of $0.26. This represents a $4.48 annualized dividend and a yield of 10.14%. The ex-dividend date of this dividend was Friday, February 9th. California Water Service Group’s dividend payout ratio (DPR) is 125.84%.

Institutional Trading of California Water Service Group

Several institutional investors and hedge funds have recently bought and sold shares of CWT. Harbour Investments Inc. bought a new position in shares of California Water Service Group in the 4th quarter valued at about $31,000. Clarity Asset Management Inc. bought a new position in California Water Service Group during the fourth quarter worth about $40,000. Belpointe Asset Management LLC grew its holdings in California Water Service Group by 58.6% during the first quarter. Belpointe Asset Management LLC now owns 731 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 270 shares during the period. FinTrust Capital Advisors LLC acquired a new position in California Water Service Group during the fourth quarter worth approximately $46,000. Finally, Point72 Europe London LLP bought a new stake in California Water Service Group in the fourth quarter valued at approximately $97,000. Institutional investors own 82.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on CWT shares. TheStreet cut shares of California Water Service Group from a “b-” rating to a “c+” rating in a research report on Wednesday, February 14th. Robert W. Baird decreased their price objective on California Water Service Group from $56.00 to $52.00 and set an “outperform” rating for the company in a report on Friday, March 1st. StockNews.com upgraded California Water Service Group to a “sell” rating in a research note on Saturday, March 9th. Finally, UBS Group raised shares of California Water Service Group from a “sell” rating to a “neutral” rating and set a $49.00 price target for the company in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $53.50.

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.