American Water Works (NYSE:AWK) Expected to Post Quarterly Sales of $863.00 Million
Analysts forecast that American Water Works (NYSE:AWK) will announce $863.00 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for American Water Works’ earnings, with estimates ranging from $858.00 million to $868.00 million. American Water Works reported sales of $827.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.4%. The company is scheduled to report its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that American Water Works will report full year sales of $863.00 million for the current financial year, with estimates ranging from $3.39 billion to $3.54 billion. For the next year, analysts expect that the business will post sales of $3.62 billion per share, with estimates ranging from $3.50 billion to $3.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for American Water Works.
American Water Works (NYSE:AWK) last released its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. American Water Works had a return on equity of 9.92% and a net margin of 14.45%. The business had revenue of $756 million for the quarter, compared to analyst estimates of $759.54 million. During the same period last year, the firm posted $0.46 earnings per share. American Water Works’s revenue was up 1.7% compared to the same quarter last year.
Several equities analysts have recently commented on the company. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research report on Tuesday, July 11th. BidaskClub lowered American Water Works from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Vetr cut American Water Works from a “buy” rating to a “hold” rating and set a $84.04 target price for the company. in a report on Wednesday, June 14th. Northcoast Research assumed coverage on American Water Works in a report on Thursday, May 25th. They set a “neutral” rating for the company. Finally, Robert W. Baird cut American Water Works from an “outperform” rating to a “neutral” rating and increased their target price for the company from $69.41 to $82.00 in a report on Wednesday, April 26th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $82.63.
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In other news, SVP Loyd A. Warnock sold 2,236 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $75.73, for a total value of $169,332.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Loyd A. Warnock sold 1,263 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $75.21, for a total value of $94,990.23. Following the completion of the transaction, the senior vice president now owns 7,055 shares of the company’s stock, valued at approximately $530,606.55. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its position in American Water Works by 38.2% in the first quarter. Canada Pension Plan Investment Board now owns 242,110 shares of the utilities provider’s stock worth $18,829,000 after buying an additional 66,954 shares during the last quarter. Mason Street Advisors LLC boosted its position in American Water Works by 1.1% in the first quarter. Mason Street Advisors LLC now owns 24,628 shares of the utilities provider’s stock worth $1,915,000 after buying an additional 278 shares during the last quarter. British Columbia Investment Management Corp boosted its position in American Water Works by 13.6% in the first quarter. British Columbia Investment Management Corp now owns 227,282 shares of the utilities provider’s stock worth $17,676,000 after buying an additional 27,222 shares during the last quarter. Highbridge Capital Management LLC boosted its position in American Water Works by 7.6% in the fourth quarter. Highbridge Capital Management LLC now owns 408,023 shares of the utilities provider’s stock worth $29,525,000 after buying an additional 28,644 shares during the last quarter. Finally, National Investment Services Inc. WI purchased a new position in American Water Works during the first quarter worth approximately $1,999,000. Institutional investors own 80.58% of the company’s stock.
Shares of American Water Works (NYSE AWK) traded up 1.14% during mid-day trading on Friday, hitting $81.92. The stock had a trading volume of 585,156 shares. The stock has a market cap of $14.60 billion, a P/E ratio of 30.57 and a beta of 0.24. The firm has a 50 day moving average price of $79.51 and a 200-day moving average price of $76.66. American Water Works has a 12 month low of $69.41 and a 12 month high of $83.21.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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