SJW Group (NYSE:SJW) Updates FY24 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.68-2.78 for the period, compared to the consensus estimate of $2.76. SJW Group also updated its FY 2024 guidance to 2.680-2.780 EPS.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. StockNews.com upgraded SJW Group from a sell rating to a hold rating in a report on Friday. Wells Fargo & Company raised their price objective on SJW Group from $61.00 to $62.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Finally, Seaport Res Ptn upgraded SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $66.00.

SJW Group Stock Performance

Shares of NYSE:SJW opened at $53.50 on Monday. The company has a market cap of $1.72 billion, a P/E ratio of 20.11, a PEG ratio of 2.59 and a beta of 0.58. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.58 and a current ratio of 0.55. SJW Group has a one year low of $51.37 and a one year high of $78.42. The business’s 50-day simple moving average is $55.82 and its 200 day simple moving average is $60.54.

SJW Group (NYSE:SJW) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). SJW Group had a return on equity of 6.98% and a net margin of 12.48%. The business had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter in the prior year, the firm earned $1.09 earnings per share. On average, sell-side analysts forecast that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 annualized dividend and a yield of 2.99%. SJW Group’s dividend payout ratio is presently 60.15%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.