California Water Service Group (CWT) Expected to Announce Quarterly Sales of $163.85 Million

Equities research analysts expect that California Water Service Group (NYSE:CWT) will report sales of $163.85 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for California Water Service Group’s earnings, with the lowest sales estimate coming in at $159.70 million and the highest estimate coming in at $168.00 million. California Water Service Group reported sales of $161.99 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.1%. The company is expected to report its next quarterly earnings report on Thursday, March 7th.

On average, analysts expect that California Water Service Group will report full-year sales of $684.68 million for the current fiscal year, with estimates ranging from $678.45 million to $692.00 million. For the next year, analysts expect that the business will post sales of $710.87 million, with estimates ranging from $705.50 million to $714.10 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for California Water Service Group.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. California Water Service Group had a net margin of 8.54% and a return on equity of 8.44%. The firm had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $249.64 million. During the same period last year, the business earned $0.70 earnings per share. California Water Service Group’s revenue was up 3.4% compared to the same quarter last year.

CWT has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Wells Fargo & Co restated a “market perform” rating and set a $44.00 price objective on shares of California Water Service Group in a research report on Monday, August 27th. Finally, Evercore ISI initiated coverage on shares of California Water Service Group in a research report on Monday, September 17th. They set an “in-line” rating and a $42.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. California Water Service Group has a consensus rating of “Hold” and a consensus target price of $39.67.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of California Water Service Group stock in a transaction dated Monday, November 19th. The shares were sold at an average price of $45.18, for a total transaction of $45,180.00. Following the completion of the sale, the vice president now directly owns 13,492 shares in the company, valued at $609,568.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of California Water Service Group by 2.3% during the third quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after acquiring an additional 118,398 shares during the last quarter. Legal & General Group Plc increased its position in shares of California Water Service Group by 3.2% during the third quarter. Legal & General Group Plc now owns 298,133 shares of the utilities provider’s stock valued at $12,745,000 after acquiring an additional 9,108 shares during the last quarter. Teachers Advisors LLC increased its position in shares of California Water Service Group by 1.3% during the third quarter. Teachers Advisors LLC now owns 93,064 shares of the utilities provider’s stock valued at $3,992,000 after acquiring an additional 1,232 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of California Water Service Group during the third quarter valued at about $725,000. Finally, MetLife Investment Advisors LLC increased its position in shares of California Water Service Group by 54.6% during the third quarter. MetLife Investment Advisors LLC now owns 35,047 shares of the utilities provider’s stock valued at $1,504,000 after acquiring an additional 12,382 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

California Water Service Group stock opened at $45.73 on Friday. California Water Service Group has a 12-month low of $35.25 and a 12-month high of $46.79. The stock has a market cap of $2.24 billion, a P/E ratio of 37.87, a PEG ratio of 5.45 and a beta of 0.50. The company has a quick ratio of 0.60, a current ratio of 0.62 and a debt-to-equity ratio of 1.00.

The business also recently declared a quarterly dividend, which was paid on Friday, November 23rd. Shareholders of record on Monday, November 12th were given a dividend of $0.1875 per share. This represents a $0.75 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date was Thursday, November 8th. California Water Service Group’s dividend payout ratio is presently 53.57%.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.

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