SJW Corporation (SJW) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Shares of SJW Corporation (NYSE:SJW) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus target price of $68.00 for the company and are expecting that the company will post $0.44 EPS for the current quarter, according to Zacks. Zacks has also given SJW an industry rank of 115 out of 265 based on the ratings given to related companies.
Separately, Zacks Investment Research cut SJW from a “strong-buy” rating to a “hold” rating in a report on Thursday, September 28th.
SJW (NYSE:SJW) last issued its earnings results on Wednesday, October 25th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.15. The business had revenue of $124.58 million for the quarter, compared to analysts’ expectations of $107.00 million. SJW had a return on equity of 11.81% and a net margin of 14.83%. research analysts expect that SJW will post 2.48 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Monday, December 11th. Investors of record on Wednesday, November 29th will be issued a $0.17 dividend. This represents a dividend yield of 1.32%. The ex-dividend date is Tuesday, November 28th. SJW’s payout ratio is 32.34%.
Several hedge funds and other institutional investors have recently modified their holdings of SJW. Kennedy Capital Management Inc. acquired a new position in shares of SJW in the 2nd quarter worth $6,183,000. Victory Capital Management Inc. grew its holdings in shares of SJW by 2,209.3% in the 3rd quarter. Victory Capital Management Inc. now owns 74,152 shares of the utilities provider’s stock worth $4,197,000 after acquiring an additional 70,941 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of SJW by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 910,889 shares of the utilities provider’s stock worth $43,923,000 after acquiring an additional 46,889 shares during the last quarter. Monarch Partners Asset Management LLC grew its holdings in shares of SJW by 423.0% in the 2nd quarter. Monarch Partners Asset Management LLC now owns 48,220 shares of the utilities provider’s stock worth $2,371,000 after acquiring an additional 39,000 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of SJW by 143.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 59,870 shares of the utilities provider’s stock worth $2,944,000 after acquiring an additional 35,301 shares during the last quarter. Institutional investors and hedge funds own 54.63% of the company’s stock.
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SJW Group, formerly SJW Corp., is a holding company. The Company’s subsidiaries include San Jose Water Company, SJWTX, Inc, SJW Land Company and Texas Water Alliance Limited (TWA). SJWTX, Inc is doing business as Canyon Lake Water Service Company (CLWSC). It operates through the segments, which include Water Utility Services, Real Estate Services and All Other.
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