California Water Service Group (NYSE:CWT) Forecasted to Post Q2 2019 Earnings of $0.38 Per Share

California Water Service Group (NYSE:CWT) – Boenning Scattergood issued their Q2 2019 earnings estimates for shares of California Water Service Group in a research report issued to clients and investors on Monday, June 10th. Boenning Scattergood analyst R. Connors expects that the utilities provider will post earnings of $0.38 per share for the quarter. Boenning Scattergood has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for California Water Service Group’s Q3 2019 earnings at $0.86 EPS, Q4 2019 earnings at $0.32 EPS, FY2019 earnings at $1.40 EPS, Q1 2020 earnings at ($0.16) EPS, Q2 2020 earnings at $0.44 EPS, Q3 2020 earnings at $0.94 EPS, Q4 2020 earnings at $0.33 EPS and FY2020 earnings at $1.55 EPS.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.21). California Water Service Group had a return on equity of 7.76% and a net margin of 8.05%. The business had revenue of $126.10 million during the quarter, compared to analysts’ expectations of $138.86 million. During the same quarter in the previous year, the company posted ($0.05) EPS. The company’s quarterly revenue was down 6.3% on a year-over-year basis.

CWT has been the subject of a number of other research reports. Wells Fargo & Co reiterated a “hold” rating on shares of California Water Service Group in a research note on Monday. Zacks Investment Research lowered California Water Service Group from a “hold” rating to a “sell” rating in a research note on Monday, February 18th. Finally, ValuEngine upgraded California Water Service Group from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. California Water Service Group has a consensus rating of “Hold” and a consensus price target of $48.50.

Shares of CWT stock opened at $49.77 on Wednesday. California Water Service Group has a 52-week low of $38.60 and a 52-week high of $55.05. The company has a quick ratio of 0.49, a current ratio of 0.50 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 36.60, a price-to-earnings-growth ratio of 3.60 and a beta of 0.37.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can lifted its stake in shares of California Water Service Group by 2.6% in the 4th quarter. Bank of Montreal Can now owns 21,109 shares of the utilities provider’s stock worth $1,006,000 after acquiring an additional 527 shares during the period. Strs Ohio lifted its stake in shares of California Water Service Group by 333.3% in the 4th quarter. Strs Ohio now owns 2,600 shares of the utilities provider’s stock worth $123,000 after acquiring an additional 2,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of California Water Service Group by 29.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,494 shares of the utilities provider’s stock worth $167,000 after acquiring an additional 786 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of California Water Service Group by 47.5% in the 4th quarter. Advisors Asset Management Inc. now owns 649 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 209 shares during the period. Finally, Rhumbline Advisers lifted its stake in shares of California Water Service Group by 19.1% in the 4th quarter. Rhumbline Advisers now owns 142,310 shares of the utilities provider’s stock worth $6,782,000 after acquiring an additional 22,776 shares during the period. 74.16% of the stock is currently owned by hedge funds and other institutional investors.

In other California Water Service Group news, VP David B. Healey sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $50.00, for a total value of $50,000.00. Following the transaction, the vice president now directly owns 15,106 shares in the company, valued at approximately $755,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Nelson sold 10,000 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $49.10, for a total transaction of $491,000.00. Following the completion of the transaction, the director now owns 39,509 shares in the company, valued at $1,939,891.90. The disclosure for this sale can be found here. Insiders have sold 12,000 shares of company stock valued at $590,230 over the last 90 days. 0.99% of the stock is currently owned by insiders.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Monday, May 6th were paid a dividend of $0.1975 per share. The ex-dividend date was Friday, May 3rd. This represents a $0.79 annualized dividend and a dividend yield of 1.59%. California Water Service Group’s payout ratio is currently 58.09%.

California Water Service Group Company Profile

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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Earnings History and Estimates for California Water Service Group (NYSE:CWT)

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