Equities analysts expect Connecticut Water Service, Inc. (NASDAQ:CTWS) to report earnings per share of $0.88 for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Connecticut Water Service’s earnings. Connecticut Water Service posted earnings per share of $0.84 during the same quarter last year, which would indicate a positive year over year growth rate of 4.8%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 14th.
According to Zacks, analysts expect that Connecticut Water Service will report full-year earnings of $2.21 per share for the current year, with EPS estimates ranging from $2.20 to $2.22. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.28 per share, with EPS estimates ranging from $2.20 to $2.35. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Connecticut Water Service.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.03). Connecticut Water Service had a return on equity of 9.21% and a net margin of 21.37%. The business had revenue of $29.50 million during the quarter.
A number of equities research analysts recently weighed in on CTWS shares. Zacks Investment Research raised Connecticut Water Service from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. BidaskClub cut Connecticut Water Service from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Barclays PLC raised their price target on Connecticut Water Service from $53.00 to $57.00 and gave the company an “equal weight” rating in a report on Friday, September 22nd.
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In related news, VP Maureen P. Westbrook sold 1,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $55.94, for a total transaction of $83,910.00. Following the completion of the sale, the vice president now directly owns 37,179 shares of the company’s stock, valued at approximately $2,079,793.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.52% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in CTWS. QS Investors LLC acquired a new stake in Connecticut Water Service during the 2nd quarter valued at $111,000. SG Americas Securities LLC acquired a new stake in Connecticut Water Service during the 2nd quarter valued at $140,000. Legal & General Group Plc increased its holdings in Connecticut Water Service by 4.3% during the 2nd quarter. Legal & General Group Plc now owns 2,715 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 111 shares in the last quarter. Ameriprise Financial Inc. acquired a new stake in Connecticut Water Service during the 1st quarter valued at $244,000. Finally, GSA Capital Partners LLP acquired a new stake in Connecticut Water Service during the 2nd quarter valued at $284,000. 46.71% of the stock is owned by hedge funds and other institutional investors.
About Connecticut Water Service
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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