Zacks: Analysts Anticipate Aqua America, Inc. (WTR) Will Post Earnings of $0.34 Per Share
Wall Street brokerages expect Aqua America, Inc. (NYSE:WTR) to announce earnings of $0.34 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Aqua America’s earnings. The highest EPS estimate is $0.35 and the lowest is $0.33. Aqua America posted earnings per share of $0.33 during the same quarter last year, which would suggest a positive year-over-year growth rate of 3%. The firm is expected to issue its next earnings report after the market closes on Wednesday, August 2nd.
On average, analysts expect that Aqua America will report full year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.39. For the next financial year, analysts anticipate that the firm will report earnings of $1.43 per share, with EPS estimates ranging from $1.39 to $1.46. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Aqua America.
Aqua America (NYSE:WTR) last posted its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.02. Aqua America had a net margin of 28.41% and a return on equity of 12.62%. The company had revenue of $187.79 million for the quarter.
Several analysts have issued reports on WTR shares. Zacks Investment Research lowered shares of Aqua America from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Northcoast Research started coverage on shares of Aqua America in a research report on Thursday, May 25th. They issued a “neutral” rating on the stock. Finally, BidaskClub raised shares of Aqua America from a “hold” rating to a “buy” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Aqua America currently has a consensus rating of “Hold” and an average price target of $32.25.
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In related news, COO Richard Scott Fox sold 5,750 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The shares were sold at an average price of $32.89, for a total transaction of $189,117.50. Following the transaction, the chief operating officer now directly owns 18,788 shares of the company’s stock, valued at $617,937.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Richard H. Glanton sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $32.83, for a total transaction of $137,886.00. Following the transaction, the director now directly owns 2,207 shares in the company, valued at $72,455.81. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Aqua America by 6.9% in the first quarter. Vanguard Group Inc. now owns 16,930,599 shares of the utilities provider’s stock worth $544,318,000 after buying an additional 1,095,878 shares during the last quarter. BlackRock Inc. increased its stake in shares of Aqua America by 2,818.7% in the first quarter. BlackRock Inc. now owns 15,234,276 shares of the utilities provider’s stock worth $489,782,000 after buying an additional 14,712,330 shares during the last quarter. State Street Corp increased its stake in shares of Aqua America by 4.6% in the first quarter. State Street Corp now owns 11,078,080 shares of the utilities provider’s stock worth $356,166,000 after buying an additional 482,723 shares during the last quarter. Pictet Asset Management Ltd. increased its stake in shares of Aqua America by 6.8% in the first quarter. Pictet Asset Management Ltd. now owns 3,510,875 shares of the utilities provider’s stock worth $112,874,000 after buying an additional 223,716 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Aqua America by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 2,640,998 shares of the utilities provider’s stock worth $84,907,000 after buying an additional 109,809 shares during the last quarter. 50.34% of the stock is currently owned by institutional investors and hedge funds.
Aqua America (NYSE WTR) opened at 33.43 on Thursday. The company’s 50 day moving average is $33.24 and its 200-day moving average is $31.94. Aqua America has a 1-year low of $28.03 and a 1-year high of $34.86. The firm has a market cap of $5.94 billion, a price-to-earnings ratio of 25.62 and a beta of 0.53.
About Aqua America
Aqua America, Inc is a holding company. The Company is engaged in providing water or wastewater services concentrated in Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana and Virginia. The Company is the holding company for its primary subsidiary, Aqua Pennsylvania, Inc Its market-based activities are conducted through Aqua Resources, Inc (Aqua Resources) and Aqua Infrastructure, LLC (Aqua Infrastructure).
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