California Water Service Group (CWT) Set to Announce Earnings on Thursday

California Water Service Group (NYSE:CWT) is set to issue its quarterly earnings data after the market closes on Thursday, October 31st. Analysts expect California Water Service Group to post earnings of $1.09 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.28. The business had revenue of $244.30 million during the quarter, compared to the consensus estimate of $216.25 million. California Water Service Group had a return on equity of 11.94% and a net margin of 17.78%. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period last year, the company earned $0.17 EPS. On average, analysts expect California Water Service Group to post $3 EPS for the current fiscal year and $2 EPS for the next fiscal year.

California Water Service Group Stock Up 0.2 %

CWT stock opened at $52.97 on Thursday. The firm has a market cap of $3.06 billion, a PE ratio of 21.24 and a beta of 0.49. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.52. California Water Service Group has a one year low of $43.50 and a one year high of $56.25. The firm’s 50 day moving average price is $53.84 and its 200-day moving average price is $51.22.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Monday, August 12th were paid a $0.28 dividend. The ex-dividend date was Monday, August 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.11%. California Water Service Group’s payout ratio is presently 44.80%.

Wall Street Analysts Forecast Growth

Separately, Wells Fargo & Company upgraded California Water Service Group from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, California Water Service Group has a consensus rating of “Hold” and a consensus price target of $53.67.

Insider Activity

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $54.33, for a total value of $30,153.15. Following the sale, the director now owns 22,506 shares of the company’s stock, valued at approximately $1,222,750.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,665 shares of company stock valued at $90,093 in the last three months. 0.73% of the stock is currently owned by company insiders.

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, Hawaii, and Texas. The company 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 services.