Q3 2024 Earnings Forecast for American Water Works Company, Inc. (NYSE:AWK) Issued By Zacks Research

American Water Works Company, Inc. (NYSE:AWK) – Analysts at Zacks Research boosted their Q3 2024 earnings per share estimates for shares of American Water Works in a research note issued to investors on Wednesday, September 11th. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings per share of $1.82 for the quarter, up from their prior estimate of $1.81. The consensus estimate for American Water Works’ current full-year earnings is $5.27 per share. Zacks Research also issued estimates for American Water Works’ FY2024 earnings at $5.27 EPS and FY2025 earnings at $5.70 EPS.

Separately, Wells Fargo & Company downgraded American Water Works from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $127.00 to $138.00 in a research note on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $141.17.

American Water Works Price Performance

AWK stock opened at $148.14 on Thursday. American Water Works has a 52-week low of $113.34 and a 52-week high of $149.00. The company has a quick ratio of 0.58, a current ratio of 0.64 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $28.86 billion, a PE ratio of 30.05, a P/E/G ratio of 3.49 and a beta of 0.69. The stock’s 50 day moving average is $141.76 and its two-hundred day moving average is $130.65.

American Water Works (NYSE:AWK) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.47 by ($0.05). The business had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.10 billion. American Water Works had a return on equity of 9.60% and a net margin of 21.93%. American Water Works’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 earnings per share.

Institutional Trading of American Water Works

A number of hedge funds and other institutional investors have recently bought and sold shares of AWK. Cary Street Partners Investment Advisory LLC grew its stake in shares of American Water Works by 39.7% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 2,898 shares of the utilities provider’s stock worth $383,000 after acquiring an additional 823 shares during the last quarter. QRG Capital Management Inc. boosted its position in shares of American Water Works by 12.1% during the fourth quarter. QRG Capital Management Inc. now owns 5,949 shares of the utilities provider’s stock worth $785,000 after acquiring an additional 643 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in American Water Works by 2.0% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 6,114 shares of the utilities provider’s stock valued at $807,000 after buying an additional 118 shares in the last quarter. Ieq Capital LLC raised its stake in American Water Works by 2.0% during the fourth quarter. Ieq Capital LLC now owns 9,017 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 176 shares in the last quarter. Finally, Checchi Capital Advisers LLC lifted its holdings in shares of American Water Works by 12.1% in the 4th quarter. Checchi Capital Advisers LLC now owns 2,082 shares of the utilities provider’s stock valued at $275,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 86.58% of the company’s stock.

Insider Buying and Selling

In other American Water Works news, Director Martha Clark Goss sold 710 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $142.85, for a total transaction of $101,423.50. Following the sale, the director now owns 36,880 shares of the company’s stock, valued at $5,268,308. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by company insiders.

American Water Works Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 4th. Stockholders of record on Tuesday, August 13th were given a $0.765 dividend. The ex-dividend date was Tuesday, August 13th. This represents a $3.06 dividend on an annualized basis and a dividend yield of 2.07%. American Water Works’s payout ratio is 62.07%.

American Water Works Company Profile

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.