Connecticut Water Service, Inc. (CTWS) Receives Consensus Recommendation of “Hold” from Brokerages

Connecticut Water Service, Inc. (NASDAQ:CTWS) has been given a consensus broker rating score of 3.00 (Hold) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three analysts have rated the stock with a hold recommendation.

Brokers have set a 1-year consensus price target of $60.50 for the company and are anticipating that the company will post $0.21 EPS for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 189 out of 265 based on the ratings given to its competitors.

A number of research firms have commented on CTWS. Zacks Investment Research raised Connecticut Water Service from a “strong sell” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Connecticut Water Service from a “strong sell” rating to a “sell” rating in a research note on Monday.

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Connecticut Water Service by 2.5% during the second quarter. Vanguard Group Inc. now owns 697,158 shares of the utilities provider’s stock valued at $38,699,000 after acquiring an additional 17,334 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Connecticut Water Service by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 425,123 shares of the utilities provider’s stock valued at $23,599,000 after acquiring an additional 21,538 shares during the period. Cortina Asset Management LLC acquired a new position in shares of Connecticut Water Service during the third quarter valued at $2,303,000. Victory Capital Management Inc. lifted its stake in shares of Connecticut Water Service by 17.7% during the third quarter. Victory Capital Management Inc. now owns 14,660 shares of the utilities provider’s stock valued at $869,000 after acquiring an additional 2,209 shares during the period. Finally, Putnam FL Investment Management Co. acquired a new position in shares of Connecticut Water Service during the third quarter valued at $460,000. 45.75% of the stock is currently owned by institutional investors.

Connecticut Water Service (CTWS) traded up $1.14 during trading on Thursday, reaching $52.51. The company’s stock had a trading volume of 89,648 shares, compared to its average volume of 47,776. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.87. The firm has a market capitalization of $624.05, a price-to-earnings ratio of 25.49, a P/E/G ratio of 3.93 and a beta of 0.01. Connecticut Water Service has a one year low of $50.56 and a one year high of $65.04.

Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings data on Wednesday, November 8th. The utilities provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.02. The company had revenue of $33.51 million for the quarter. Connecticut Water Service had a return on equity of 9.16% and a net margin of 22.00%. equities analysts forecast that Connecticut Water Service will post 2.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be paid a $0.2975 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Wednesday, February 28th. Connecticut Water Service’s dividend payout ratio is currently 57.77%.

COPYRIGHT VIOLATION WARNING: This story was originally posted by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was stolen and reposted in violation of international copyright & trademark legislation. The correct version of this story can be viewed at https://www.americanbankingnews.com/2018/02/08/connecticut-water-service-inc-ctws-receives-consensus-recommendation-of-hold-from-brokerages.html.

Connecticut Water Service Company Profile

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).

Get a free copy of the Zacks research report on Connecticut Water Service (CTWS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Connecticut Water Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Connecticut Water Service and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply