Zacks: American States Water Company (AWR) Given Consensus Recommendation of “Hold” by Analysts
Shares of American States Water Company (NYSE:AWR) have been given an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus price objective of $43.67 for the company and are forecasting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also assigned American States Water an industry rank of 207 out of 265 based on the ratings given to its competitors.
AWR has been the topic of several recent analyst reports. BidaskClub downgraded American States Water from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research downgraded American States Water from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, US Capital Advisors restated a “hold” rating on shares of American States Water in a report on Monday, July 17th.
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American States Water (NYSE AWR) traded up 0.22% during midday trading on Friday, hitting $50.63. 297,797 shares of the company’s stock traded hands. The company has a market capitalization of $1.86 billion, a PE ratio of 27.32 and a beta of 0.45. American States Water has a 52 week low of $37.47 and a 52 week high of $51.75. The company has a 50 day moving average of $49.73 and a 200-day moving average of $46.72.
American States Water (NYSE:AWR) last issued its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.45 by $0.17. American States Water had a net margin of 15.44% and a return on equity of 13.70%. The firm had revenue of $113.20 million for the quarter, compared to analysts’ expectations of $119.23 million. During the same period in the previous year, the business earned $0.45 earnings per share. American States Water’s revenue for the quarter was up 1.1% compared to the same quarter last year. Equities research analysts predict that American States Water will post $1.70 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 2.01%. The ex-dividend date was Friday, August 11th. This is an increase from American States Water’s previous quarterly dividend of $0.24. American States Water’s payout ratio is presently 55.14%.
In other American States Water news, CEO Robert J. Sprowls sold 9,586 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $51.01, for a total transaction of $488,981.86. Following the sale, the chief executive officer now owns 111,454 shares in the company, valued at approximately $5,685,268.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Denise L. Kruger sold 1,250 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $47.52, for a total value of $59,400.00. Following the sale, the insider now owns 13,197 shares in the company, valued at approximately $627,121.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,605 shares of company stock worth $1,567,120. Corporate insiders own 1.49% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in American States Water by 9,491.3% during the 1st quarter. BlackRock Inc. now owns 4,590,223 shares of the utilities provider’s stock worth $203,346,000 after buying an additional 4,542,365 shares during the period. Vanguard Group Inc. raised its holdings in American States Water by 2.0% during the 2nd quarter. Vanguard Group Inc. now owns 3,768,089 shares of the utilities provider’s stock worth $178,644,000 after buying an additional 74,002 shares during the period. Pictet Asset Management Ltd. raised its holdings in American States Water by 3.4% during the 2nd quarter. Pictet Asset Management Ltd. now owns 1,736,800 shares of the utilities provider’s stock worth $79,528,000 after buying an additional 57,074 shares during the period. Dimensional Fund Advisors LP raised its holdings in American States Water by 2.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,349,948 shares of the utilities provider’s stock worth $64,001,000 after buying an additional 30,991 shares during the period. Finally, State Street Corp raised its holdings in American States Water by 4.2% during the 2nd quarter. State Street Corp now owns 990,335 shares of the utilities provider’s stock worth $46,948,000 after buying an additional 39,563 shares during the period. Hedge funds and other institutional investors own 65.48% of the company’s stock.
About American States Water
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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