California Water Service Group (CWT) Expected to Announce Earnings of $0.28 Per Share

WINTON GROUP Ltd increased its stake in shares of California Water Service Group by 3,621.2% in the 3rd quarter. WINTON GROUP Ltd now owns …

California Water Service Group logoBrokerages expect that California Water Service Group (NYSE:CWT) will announce earnings per share (EPS) of $0.28 for the current quarter, according to Zacks. Two analysts have made estimates for California Water Service Group’s earnings, with estimates ranging from $0.26 to $0.32. California Water Service Group reported earnings of $0.29 per share in the same quarter last year, which indicates a negative year over year growth rate of 3.4%. The firm is scheduled to report its next quarterly earnings report on Thursday, March 7th.

According to Zacks, analysts expect that California Water Service Group will report full year earnings of $1.22 per share for the current year, with EPS estimates ranging from $1.20 to $1.24. For the next fiscal year, analysts expect that the company will post earnings of $1.42 per share, with EPS estimates ranging from $1.39 to $1.45. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for California Water Service Group.

California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.72 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.72. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $249.64 million. California Water Service Group had a return on equity of 8.44% and a net margin of 8.54%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.70 EPS.

Several equities analysts recently commented on CWT shares. Zacks Investment Research upgraded California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, January 3rd. Robert W. Baird upgraded California Water Service Group from a “neutral” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Thursday, December 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. California Water Service Group presently has a consensus rating of “Hold” and a consensus price target of $44.20.

Shares of California Water Service Group stock traded up $0.46 during midday trading on Friday, hitting $47.24. 193,756 shares of the company were exchanged, compared to its average volume of 194,609. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.62 and a quick ratio of 0.60. The company has a market capitalization of $2.27 billion, a PE ratio of 33.74, a price-to-earnings-growth ratio of 4.76 and a beta of 0.38. California Water Service Group has a 52 week low of $35.25 and a 52 week high of $49.07.

In related news, VP David B. Healey sold 1,000 shares of the firm’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $45.18, for a total transaction of $45,180.00. Following the completion of the sale, the vice president now directly owns 13,492 shares of the company’s stock, valued at approximately $609,568.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CWT. BlackRock Inc. increased its stake in shares of California Water Service Group by 9.0% in the 2nd quarter. BlackRock Inc. now owns 7,121,516 shares of the utilities provider’s stock valued at $277,382,000 after buying an additional 590,505 shares during the period. Nuance Investments LLC acquired a new stake in shares of California Water Service Group in the 3rd quarter valued at $12,166,000. WINTON GROUP Ltd increased its stake in shares of California Water Service Group by 3,621.2% in the 3rd quarter. WINTON GROUP Ltd now owns 255,237 shares of the utilities provider’s stock valued at $10,950,000 after buying an additional 248,378 shares during the period. Vanguard Group Inc. increased its stake in shares of California Water Service Group by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after buying an additional 118,398 shares during the period. Finally, Vanguard Group Inc increased its stake in shares of California Water Service Group by 2.3% in the 3rd quarter. Vanguard Group Inc now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after buying an additional 118,398 shares during the period. 72.33% of the stock is owned by hedge funds and other institutional investors.

California Water Service Group Company Profile

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection.

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