Zacks Research Has Negative Estimate for CWT FY2024 Earnings

California Water Service Group (NYSE:CWT) – Equities research analysts at Zacks Research lowered their FY2024 earnings estimates for California Water Service Group in a report released on Thursday, November 14th. Zacks Research analyst J. Saha now expects that the utilities provider will post earnings per share of $3.31 for the year, down from their previous estimate of $3.36. The consensus estimate for California Water Service Group’s current full-year earnings is $3.29 per share. Zacks Research also issued estimates for California Water Service Group’s Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.36 EPS, Q1 2026 earnings at $0.18 EPS, Q2 2026 earnings at $0.40 EPS, Q3 2026 earnings at $1.15 EPS and FY2026 earnings at $2.48 EPS.

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

California Water Service Group Trading Up 1.0 %

NYSE:CWT opened at $51.41 on Monday. The business’s 50-day moving average is $52.58 and its two-hundred day moving average is $51.87. The firm has a market capitalization of $3.06 billion, a PE ratio of 14.86 and a beta of 0.49. California Water Service Group has a 12 month low of $43.50 and a 12 month high of $56.25. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60.

California Water Service Group (NYSE:CWT) last issued its earnings results on Thursday, October 31st. The utilities provider reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same period in the prior year, the business posted $0.60 EPS. The business’s revenue was up 17.5% on a year-over-year basis.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Tuesday, November 12th will be given a $0.28 dividend. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a yield of 2.18%. California Water Service Group’s payout ratio is currently 32.37%.

Insider Activity

In related news, Director Thomas M. Krummel sold 555 shares of California Water Service Group stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the completion of the sale, the director now owns 21,951 shares in the company, valued at approximately $1,209,280.59. The trade was a 2.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.73% of the company’s stock.

Institutional Trading of California Water Service Group

Several hedge funds and other institutional investors have recently bought and sold shares of CWT. Vanguard Group Inc. grew its position in shares of California Water Service Group by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 7,198,981 shares of the utilities provider’s stock worth $334,609,000 after acquiring an additional 232,344 shares in the last quarter. Geode Capital Management LLC boosted its holdings in California Water Service Group by 1.8% in the third quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider’s stock worth $72,559,000 after purchasing an additional 24,275 shares during the period. Dimensional Fund Advisors LP boosted its holdings in California Water Service Group by 2.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,288,740 shares of the utilities provider’s stock worth $62,491,000 after purchasing an additional 25,711 shares during the period. Wulff Hansen & CO. increased its stake in California Water Service Group by 4,565.4% during the second quarter. Wulff Hansen & CO. now owns 1,053,688 shares of the utilities provider’s stock valued at $51,093,000 after purchasing an additional 1,031,103 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of California Water Service Group by 7.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 710,958 shares of the utilities provider’s stock worth $38,548,000 after purchasing an additional 48,055 shares during the period. 82.78% of the stock is owned by 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, 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.