$0.24 Earnings Per Share Expected for California Water Service Group (CWT) This Quarter

Analysts expect that California Water Service Group (NYSE:CWT) will announce $0.24 earnings per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for California Water Service Group’s earnings, with estimates ranging from $0.21 to $0.27. California Water Service Group posted earnings per share of $0.31 in the same quarter last year, which would suggest a negative year-over-year growth rate of 22.6%. The business is expected to report its next earnings results on Thursday, February 22nd.

According to Zacks, analysts expect that California Water Service Group will report full year earnings of $1.33 per share for the current fiscal year, with EPS estimates ranging from $1.30 to $1.39. For the next year, analysts forecast that the company will post earnings of $1.43 per share, with EPS estimates ranging from $1.40 to $1.47. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that follow California Water Service Group.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $211.70 million for the quarter, compared to analyst estimates of $203.00 million. California Water Service Group had a return on equity of 10.31% and a net margin of 10.46%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.48 EPS.

Several equities analysts have commented on the company. Robert W. Baird reiterated a “hold” rating and issued a $35.00 target price on shares of California Water Service Group in a research report on Sunday, September 3rd. Zacks Investment Research raised California Water Service Group from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research note on Friday, October 27th. Finally, Barclays lifted their price target on California Water Service Group from $30.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday, September 22nd. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. California Water Service Group has a consensus rating of “Hold” and a consensus price target of $36.75.

California Water Service Group (CWT) traded up $0.50 during trading on Friday, reaching $44.80. The company’s stock had a trading volume of 171,830 shares, compared to its average volume of 161,126. The company has a quick ratio of 0.46, a current ratio of 0.47 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $2,105.46, a P/E ratio of 31.55, a PEG ratio of 5.49 and a beta of 0.73. California Water Service Group has a 1 year low of $32.45 and a 1 year high of $46.15.

Institutional investors have recently modified their holdings of the company. Riverhead Capital Management LLC boosted its holdings in California Water Service Group by 66.4% during the second quarter. Riverhead Capital Management LLC now owns 4,161 shares of the utilities provider’s stock worth $153,000 after buying an additional 1,661 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of California Water Service Group in the 3rd quarter worth about $160,000. Flinton Capital Management LLC increased its holdings in shares of California Water Service Group by 60.8% in the 2nd quarter. Flinton Capital Management LLC now owns 5,576 shares of the utilities provider’s stock worth $205,000 after acquiring an additional 2,108 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of California Water Service Group by 24.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,694 shares of the utilities provider’s stock worth $209,000 after acquiring an additional 1,119 shares during the period. Finally, ELCO Management Co. LLC acquired a new stake in shares of California Water Service Group in the 2nd quarter worth about $225,000. Hedge funds and other institutional investors own 69.54% of the company’s stock.

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About California Water Service Group

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

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