Analysts Expect Connecticut Water Service Inc (NASDAQ:CTWS) Will Post Earnings of $0.66 Per Share

Equities analysts predict that Connecticut Water Service Inc (NASDAQ:CTWS) will announce earnings of $0.66 per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Connecticut Water Service’s earnings. Connecticut Water Service posted earnings of $0.39 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 69.2%. The firm is expected to issue its next quarterly earnings report on Thursday, August 8th.

According to Zacks, analysts expect that Connecticut Water Service will report full year earnings of $2.30 per share for the current fiscal year. For the next year, analysts anticipate that the business will post earnings of $2.45 per share. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Connecticut Water Service.

Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.02). Connecticut Water Service had a net margin of 16.21% and a return on equity of 8.72%. The business had revenue of $27.86 million during the quarter.

Several research firms have recently weighed in on CTWS. BidaskClub raised Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Thursday, July 4th. Zacks Investment Research raised Grana y Montero SAA from a “sell” rating to a “hold” rating in a research report on Monday, June 10th. Three research analysts have rated the stock with a sell rating and one has issued a hold rating to the company’s stock. The company currently has a consensus rating of “Sell” and a consensus price target of $66.50.

Shares of CTWS traded down $0.43 during mid-day trading on Tuesday, hitting $69.57. The company’s stock had a trading volume of 17,718 shares, compared to its average volume of 45,108. Connecticut Water Service has a one year low of $62.05 and a one year high of $70.44. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.47 and a quick ratio of 0.45. The firm has a market capitalization of $839.22 million, a price-to-earnings ratio of 30.38 and a beta of -0.05. The business has a 50-day moving average of $69.26.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Inc. lifted its position in Connecticut Water Service by 2.9% in the fourth quarter. Advisor Group Inc. now owns 6,670 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 187 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Connecticut Water Service by 315.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 4,133 shares of the utilities provider’s stock worth $276,000 after purchasing an additional 3,137 shares during the period. Norges Bank bought a new position in Connecticut Water Service in the fourth quarter worth $17,707,000. Deutsche Bank AG lifted its position in Connecticut Water Service by 27.0% in the fourth quarter. Deutsche Bank AG now owns 39,013 shares of the utilities provider’s stock worth $2,606,000 after purchasing an additional 8,288 shares during the period. Finally, Contravisory Investment Management Inc. bought a new position in Connecticut Water Service in the first quarter worth $119,000. 51.08% of the stock is owned by institutional investors.

Connecticut Water Service Company Profile

Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water and provides wastewater services.

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