Brokerages forecast that Connecticut Water Service, Inc. (NASDAQ:CTWS) will report earnings per share (EPS) of $0.88 for the current quarter, Zacks reports. Zero analysts have issued estimates for Connecticut Water Service’s earnings. Connecticut Water Service posted earnings per share of $0.84 in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The company is expected to issue its next quarterly earnings results on Tuesday, November 14th.

According to Zacks, analysts expect that Connecticut Water Service will report full year earnings of $2.21 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.22. For the next fiscal year, analysts forecast that the company will post earnings of $2.28 per share, with EPS estimates ranging from $2.20 to $2.35. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Connecticut Water Service.

Connecticut Water Service (NASDAQ:CTWS) last announced its earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. The business had revenue of $29.50 million during the quarter.

A number of equities research analysts have recently commented on CTWS shares. Barclays PLC increased their price target on shares of Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd. BidaskClub cut shares of Connecticut Water Service from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Zacks Investment Research upgraded shares of Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th.

Connecticut Water Service (CTWS) opened at 61.72 on Wednesday. The stock has a 50 day moving average price of $57.14 and a 200-day moving average price of $55.76. Connecticut Water Service has a 52 week low of $49.23 and a 52 week high of $62.15. The stock has a market cap of $714.41 million, a P/E ratio of 30.83 and a beta of 0.11.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, September 1st were issued a dividend of $0.298 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, August 30th. Connecticut Water Service’s payout ratio is 59.50%.

In related news, VP Maureen P. Westbrook sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $55.94, for a total value of $83,910.00. Following the sale, the vice president now owns 37,179 shares in the company, valued at $2,079,793.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.52% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Connecticut Water Service by 2.5% in the second quarter. Vanguard Group Inc. now owns 697,158 shares of the utilities provider’s stock worth $38,699,000 after purchasing an additional 17,334 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Connecticut Water Service by 5.3% in the second quarter. Dimensional Fund Advisors LP now owns 425,123 shares of the utilities provider’s stock worth $23,599,000 after purchasing an additional 21,538 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Connecticut Water Service by 1.1% in the second quarter. Renaissance Technologies LLC now owns 244,800 shares of the utilities provider’s stock worth $13,589,000 after purchasing an additional 2,600 shares during the last quarter. State Street Corp boosted its holdings in Connecticut Water Service by 4.8% in the second quarter. State Street Corp now owns 241,026 shares of the utilities provider’s stock worth $13,381,000 after purchasing an additional 10,986 shares during the last quarter. Finally, Water Asset Management LLC boosted its holdings in Connecticut Water Service by 45.6% in the first quarter. Water Asset Management LLC now owns 208,632 shares of the utilities provider’s stock worth $11,089,000 after purchasing an additional 65,340 shares during the last quarter. Institutional investors own 46.75% of the company’s stock.

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About Connecticut Water Service

Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).

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