Seaport Res Ptn Issues Pessimistic Outlook for CWT Earnings

California Water Service Group (NYSE:CWTFree Report) – Equities researchers at Seaport Res Ptn cut their FY2027 earnings estimates for California Water Service Group in a report issued on Friday, April 11th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will earn $2.78 per share for the year, down from their previous estimate of $2.83. Seaport Res Ptn currently has a “Strong-Buy” rating on the stock. The consensus estimate for California Water Service Group’s current full-year earnings is $3.15 per share. Seaport Res Ptn also issued estimates for California Water Service Group’s FY2028 earnings at $3.05 EPS.

California Water Service Group (NYSE:CWTGet Free Report) last issued its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $222.20 million during the quarter, compared to analyst estimates of $216.37 million. During the same period in the previous year, the company earned $0.52 EPS.

Several other equities analysts also recently issued reports on CWT. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $56.00 to $52.00 in a research note on Tuesday, January 7th. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research report on Friday. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, California Water Service Group has an average rating of “Buy” and an average target price of $54.67.

Check Out Our Latest Research Report on California Water Service Group

California Water Service Group Stock Performance

California Water Service Group stock opened at $50.27 on Monday. The business has a 50 day moving average of $46.62 and a 200-day moving average of $48.04. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25. The company has a market capitalization of $2.99 billion, a P/E ratio of 14.53, a P/E/G ratio of 0.46 and a beta of 0.56.

California Water Service Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a dividend of $0.30 per share. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Monday, February 10th. California Water Service Group’s dividend payout ratio (DPR) is presently 36.70%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CWT. Barclays PLC grew its stake in California Water Service Group by 135.8% during the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock worth $6,486,000 after purchasing an additional 68,914 shares during the period. Geode Capital Management LLC boosted its holdings in shares of California Water Service Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after buying an additional 24,275 shares in the last quarter. Franklin Resources Inc. grew its position in shares of California Water Service Group by 117.0% during the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock worth $3,100,000 after buying an additional 31,412 shares during the period. JPMorgan Chase & Co. increased its stake in shares of California Water Service Group by 55.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after acquiring an additional 57,811 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new position in shares of California Water Service Group during the 4th quarter valued at $234,000. 82.78% of the stock is owned by institutional investors.

California Water Service Group Company Profile

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California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company 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 services.

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

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