Wall Street analysts predict that California Water Service Group (NYSE:CWT) will report earnings of $0.24 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for California Water Service Group’s earnings, with estimates ranging from $0.21 to $0.27. California Water Service Group reported earnings per share of $0.31 in the same quarter last year, which suggests a negative year over year growth rate of 22.6%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, February 22nd.
According to Zacks, analysts expect that California Water Service Group will report full year earnings of $1.33 per share for the current financial year, with EPS estimates ranging from $1.30 to $1.39. For the next fiscal year, analysts forecast that the business will report earnings of $1.43 per share, with EPS estimates ranging from $1.40 to $1.47. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow California Water Service Group.
Several equities analysts recently issued reports on CWT shares. Hilliard Lyons cut California Water Service Group from a “neutral” rating to an “underperform” rating in a report on Wednesday, January 17th. Zacks Investment Research cut California Water Service Group from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.33.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Monday, February 12th will be issued a dividend of $0.1875 per share. The ex-dividend date is Friday, February 9th. This is a boost from California Water Service Group’s previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a yield of 1.96%. California Water Service Group’s payout ratio is currently 52.82%.
A number of institutional investors have recently added to or reduced their stakes in CWT. Nuance Investments LLC increased its position in California Water Service Group by 106.1% during the third quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock worth $25,250,000 after buying an additional 340,789 shares in the last quarter. BlackRock Inc. increased its position in California Water Service Group by 4.8% during the fourth quarter. BlackRock Inc. now owns 6,368,283 shares of the utilities provider’s stock worth $288,803,000 after buying an additional 289,527 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in California Water Service Group during the fourth quarter worth $4,621,000. Impax Asset Management LTD increased its position in California Water Service Group by 4.0% during the third quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock worth $72,953,000 after buying an additional 73,467 shares in the last quarter. Finally, Chicago Equity Partners LLC purchased a new position in California Water Service Group during the fourth quarter worth $3,062,000. 69.89% of the stock is owned by institutional investors.
About California Water Service Group
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.
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