Connecticut Water Service, Inc. (NASDAQ:CTWS) has been given an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Analysts have set a 12 month consensus target price of $60.50 for the company and are predicting that the company will post $0.88 earnings per share for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 110 out of 265 based on the ratings given to its competitors.
Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Connecticut Water Service from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research report on Wednesday, August 16th. BidaskClub cut Connecticut Water Service from a “hold” rating to a “sell” rating in a research report on Friday, August 25th. Finally, Barclays PLC lifted their price target on Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd.
Connecticut Water Service (NASDAQ:CTWS) traded down 0.35% during mid-day trading on Friday, reaching $62.02. The company’s stock had a trading volume of 1,702 shares. The company has a market capitalization of $717.88 million, a PE ratio of 30.98 and a beta of 0.11. The firm has a 50 day moving average price of $59.95 and a 200-day moving average price of $56.60. Connecticut Water Service has a 1-year low of $49.23 and a 1-year high of $64.14.
Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.03). Connecticut Water Service had a net margin of 21.37% and a return on equity of 9.21%. The firm had revenue of $29.50 million for the quarter. On average, equities analysts predict that Connecticut Water Service will post $2.21 EPS for the current fiscal year.
In related news, VP Maureen P. Westbrook sold 1,500 shares of Connecticut Water Service stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total value of $83,910.00. Following the transaction, the vice president now directly owns 37,179 shares in the company, valued at approximately $2,079,793.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.52% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CTWS. QS Investors LLC acquired a new position in shares of Connecticut Water Service in the 2nd quarter worth $111,000. SG Americas Securities LLC acquired a new position in shares of Connecticut Water Service in the 2nd quarter worth $140,000. Legal & General Group Plc grew its holdings in shares of Connecticut Water Service by 4.3% in the 2nd quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 111 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Connecticut Water Service in the 1st quarter worth $244,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Connecticut Water Service in the 2nd quarter worth $284,000. Institutional investors and hedge funds own 46.71% of the company’s stock.
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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).
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