Zacks: Brokerages Set $25.50 Price Target for The York Water Co. (YORW)
The York Water Co. (NASDAQ:YORW) has been assigned an average broker rating score of 5.00 (Strong Sell) from the one brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a strong sell recommendation.
Brokerages have set a 1 year consensus target price of $25.50 for the company, according to Zacks. Zacks has also assigned The York Water an industry rank of 93 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research lowered shares of The York Water from a “hold” rating to a “sell” rating in a report on Tuesday, August 16th.
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The York Water (NASDAQ:YORW) traded down 0.1570% on Tuesday, hitting $29.0044. 13,207 shares of the company were exchanged. The York Water has a 52 week low of $22.18 and a 52 week high of $33.40. The company has a 50 day moving average price of $29.17 and a 200-day moving average price of $29.69. The stock has a market capitalization of $373.26 million, a P/E ratio of 30.0876 and a beta of 0.49.
The York Water (NASDAQ:YORW) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. The York Water had a net margin of 26.27% and a return on equity of 11.29%. The company earned $11.80 million during the quarter, compared to analyst estimates of $12.08 million. During the same period in the prior year, the business posted $0.22 EPS. The firm’s revenue was down .8% compared to the same quarter last year. On average, equities analysts expect that The York Water will post $0.95 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.1555 per share. This represents a $0.62 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Wednesday, September 28th. The York Water’s payout ratio is currently 63.92%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Aperio Group LLC bought a new position in shares of The York Water during the first quarter worth about $252,000. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of The York Water during the first quarter worth about $287,000. Royal Bank of Canada increased its position in shares of The York Water by 73.3% in the first quarter. Royal Bank of Canada now owns 7,778 shares of the company’s stock worth $238,000 after buying an additional 3,290 shares during the last quarter. Creative Planning increased its position in shares of The York Water by 33.3% in the second quarter. Creative Planning now owns 8,000 shares of the company’s stock worth $256,000 after buying an additional 2,000 shares during the last quarter. Finally, Strs Ohio increased its position in shares of The York Water by 6.1% in the second quarter. Strs Ohio now owns 22,500 shares of the company’s stock worth $720,000 after buying an additional 1,300 shares during the last quarter. 31.01% of the stock is currently owned by institutional investors and hedge funds.
About The York Water
The York Water Company is an investor-owned water utility. The Company impounds, purifies and distributes water. The Company owns and operates approximately two wastewater collection and treatment systems. It operates within its franchised territory, which covers over 40 municipalities within York County, Pennsylvania and over nine municipalities within Adams County, Pennsylvania.
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