California Water Service Group (CWT) Given Average Recommendation of “Hold” by Analysts

Shares of California Water Service Group (NYSE:CWT) have been assigned an average rating of “Hold” from the eight research firms that are currently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $33.00.

CWT has been the topic of a number of research analyst reports. Zacks Investment Research downgraded California Water Service Group from a “buy” rating to a “hold” rating in a report on Thursday, November 16th. Barclays raised their target price on California Water Service Group from $30.00 to $32.00 and gave the company an “underweight” rating in a report on Friday, September 22nd.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its holdings in shares of California Water Service Group by 51.5% during the 3rd quarter. GSA Capital Partners LLP now owns 12,596 shares of the utilities provider’s stock valued at $481,000 after acquiring an additional 4,283 shares in the last quarter. Independent Advisor Alliance boosted its holdings in shares of California Water Service Group by 13.4% during the 3rd quarter. Independent Advisor Alliance now owns 17,346 shares of the utilities provider’s stock valued at $710,000 after acquiring an additional 2,049 shares in the last quarter. Piedmont Investment Advisors LLC boosted its holdings in shares of California Water Service Group by 250.9% during the 3rd quarter. Piedmont Investment Advisors LLC now owns 36,391 shares of the utilities provider’s stock valued at $1,388,000 after acquiring an additional 26,019 shares in the last quarter. California Public Employees Retirement System boosted its holdings in shares of California Water Service Group by 4.6% during the 3rd quarter. California Public Employees Retirement System now owns 112,668 shares of the utilities provider’s stock valued at $4,298,000 after acquiring an additional 4,986 shares in the last quarter. Finally, AMP Capital Investors Ltd boosted its holdings in shares of California Water Service Group by 4.5% during the 3rd quarter. AMP Capital Investors Ltd now owns 35,044 shares of the utilities provider’s stock valued at $1,337,000 after acquiring an additional 1,500 shares in the last quarter. 69.54% of the stock is currently owned by institutional investors.

Shares of California Water Service Group (NYSE:CWT) opened at $43.10 on Friday. The firm has a market capitalization of $2,070.00, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 5.11 and a beta of 0.74. California Water Service Group has a twelve month low of $32.55 and a twelve month high of $46.15. The company has a quick ratio of 0.46, a current ratio of 0.47 and a debt-to-equity ratio of 0.76.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.02. The firm had revenue of $211.70 million for the quarter, compared to the consensus estimate of $203.00 million. California Water Service Group had a return on equity of 10.31% and a net margin of 10.46%. The company’s revenue was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. equities research analysts expect that California Water Service Group will post 1.33 earnings per share for the current year.

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California Water Service Group Company Profile

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Analyst Recommendations for California Water Service Group (NYSE:CWT)

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