$123.65 Million in Sales Expected for Chesapeake Utilities Corporation (CPK) This Quarter
Wall Street analysts predict that Chesapeake Utilities Corporation (NYSE:CPK) will announce sales of $123.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Chesapeake Utilities Corporation’s earnings, with the lowest sales estimate coming in at $117.50 million and the highest estimate coming in at $129.80 million. Chesapeake Utilities Corporation posted sales of $108.35 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 14.1%. The firm is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Chesapeake Utilities Corporation will report full year sales of $123.65 million for the current fiscal year, with estimates ranging from $570.00 million to $593.30 million. For the next financial year, analysts expect that the firm will report sales of $636.05 million per share, with estimates ranging from $629.50 million to $642.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Chesapeake Utilities Corporation.
Chesapeake Utilities Corporation (NYSE:CPK) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.55 by ($0.18). Chesapeake Utilities Corporation had a return on equity of 9.18% and a net margin of 7.40%. The firm had revenue of $125.08 million for the quarter, compared to analysts’ expectations of $116.50 million. During the same period last year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 22.2% on a year-over-year basis.
Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Chesapeake Utilities Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research lowered shares of Chesapeake Utilities Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $72.25.
Chesapeake Utilities Corporation (NYSE CPK) traded down 0.86% during midday trading on Monday, hitting $80.55. The stock had a trading volume of 8,087 shares. Chesapeake Utilities Corporation has a 52 week low of $57.63 and a 52 week high of $81.95. The firm has a market cap of $1.32 billion, a P/E ratio of 31.32 and a beta of 0.27. The stock has a 50-day moving average of $79.14 and a 200-day moving average of $74.24.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Friday, September 15th will be given a $0.325 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.30 annualized dividend and a yield of 1.60%. Chesapeake Utilities Corporation’s dividend payout ratio (DPR) is presently 50.78%.
In related news, CEO P. Mcmasters Michael sold 5,500 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $74.56, for a total value of $410,080.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.36% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in the stock. Phocas Financial Corp. grew its position in Chesapeake Utilities Corporation by 4.7% in the second quarter. Phocas Financial Corp. now owns 149,516 shares of the utilities provider’s stock worth $11,206,000 after acquiring an additional 6,670 shares in the last quarter. Advisory Services Network LLC grew its position in Chesapeake Utilities Corporation by 1.2% in the second quarter. Advisory Services Network LLC now owns 2,985 shares of the utilities provider’s stock worth $224,000 after acquiring an additional 34 shares in the last quarter. Ameritas Investment Partners Inc. grew its position in Chesapeake Utilities Corporation by 11.9% in the second quarter. Ameritas Investment Partners Inc. now owns 1,388 shares of the utilities provider’s stock worth $104,000 after acquiring an additional 148 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Chesapeake Utilities Corporation in the second quarter worth $526,000. Finally, Raymond James Financial Services Advisors Inc. grew its position in Chesapeake Utilities Corporation by 11.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 13,210 shares of the utilities provider’s stock worth $990,000 after acquiring an additional 1,391 shares in the last quarter. Institutional investors own 61.33% of the company’s stock.
Chesapeake Utilities Corporation Company Profile
Chesapeake Utilities Corporation (Chesapeake) is an energy company. The Company operates through two segments: Regulated Energy and Unregulated Energy. The Company provides natural gas distribution and transmission; natural gas supply, gathering, processing and marketing; electric distribution and generation; propane distribution; propane and crude oil wholesale marketing; steam generation, and other energy-related services.
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