Zacks Investment Research Lowers The York Water Company (YORW) to Hold
The York Water Company (NASDAQ:YORW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “The York Water Company impounds, purifies and distributes water. They are regulated by the Pennsylvania Public Utility Commission in the areas of billing, payment procedures, dispute processing, terminations, service territory, and rate setting. They must obtain PPUC approval before changing any of the aforementioned procedures. “
Shares of The York Water Company (NASDAQ:YORW) traded up 1.93% on Wednesday, reaching $37.00. 20,691 shares of the company traded hands. The company has a market capitalization of $475.12 million, a P/E ratio of 38.22 and a beta of 0.55. The firm’s 50 day moving average is $37.70 and its 200 day moving average is $31.94. The York Water Company has a one year low of $23.79 and a one year high of $39.85.
This article was originally published by and is the sole property of American Banking News. If you happen to be reading this article on another website, it was stolen and illegally republished in violation of U.S. and International copyright law. The original version of this story can be read at https://www.americanbankingnews.com/2017/01/11/zacks-investment-research-lowers-the-york-water-company-yorw-to-hold.html
The York Water Company (NASDAQ:YORW) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by $0.01. The firm had revenue of $12.60 million for the quarter, compared to the consensus estimate of $12.50 million. The York Water Company had a return on equity of 11.17% and a net margin of 26.25%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Analysts expect that The York Water Company will post $0.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be given a dividend of $0.1602 per share. This is a boost from The York Water Company’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $0.64 annualized dividend and a yield of 1.77%. The York Water Company’s dividend payout ratio (DPR) is presently 66.67%.
COPYRIGHT VIOLATION NOTICE: This piece was reported by American Banking News and is the propert of of American Banking News. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/01/11/zacks-investment-research-lowers-the-york-water-company-yorw-to-hold.html.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Group LTD purchased a new position in The York Water Company during the second quarter valued at $108,000. BlackRock Advisors LLC boosted its position in The York Water Company by 55.1% in the second quarter. BlackRock Advisors LLC now owns 6,161 shares of the company’s stock valued at $197,000 after buying an additional 2,189 shares during the last quarter. Baird Financial Group Inc. purchased a new position in The York Water Company during the second quarter valued at $210,000. Janney Montgomery Scott LLC purchased a new position in The York Water Company during the second quarter valued at $211,000. Finally, Aperio Group LLC purchased a new position in The York Water Company during the third quarter valued at $202,000. Hedge funds and other institutional investors own 31.12% of the company’s stock.
The York Water Company Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for The York Water Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The York Water Company and related companies with MarketBeat.com's FREE daily email newsletter.