FY2027 Earnings Estimate for CWT Issued By Seaport Res Ptn

California Water Service Group (NYSE:CWT) – Investment analysts at Seaport Res Ptn decreased their FY2027 earnings per share estimates for shares of California Water Service Group in a research note issued to investors on Friday, April 11th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $2.78 per share for the year, down from their previous estimate of $2.83. Seaport Res Ptn has a “Strong-Buy” rating on the stock. The consensus estimate for California Water Service Group’s current full-year earnings is $3.15 per share. Seaport Res Ptn also issued estimates for California Water Service Group’s FY2028 earnings at $3.05 EPS.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The firm had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $216.37 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same quarter in the prior year, the business earned $0.52 EPS.

Several other research analysts have also recently commented on the company. StockNews.com upgraded California Water Service Group from a “sell” rating to a “hold” rating in a research note on Friday. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $52.00 in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $54.67.

California Water Service Group Stock Performance

Shares of CWT stock opened at $50.93 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The company’s fifty day moving average price is $46.75 and its two-hundred day moving average price is $48.02. The firm has a market capitalization of $3.03 billion, a P/E ratio of 14.72, a P/E/G ratio of 0.46 and a beta of 0.56. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25.

Hedge Funds Weigh In On California Water Service Group

A number of large investors have recently bought and sold shares of the business. Barclays PLC raised its stake in California Water Service Group by 135.8% during the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock valued at $6,486,000 after acquiring an additional 68,914 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of 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 valued at $72,559,000 after buying an additional 24,275 shares in the last quarter. Franklin Resources Inc. increased its stake in California Water Service Group by 117.0% in the 3rd quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock worth $3,100,000 after purchasing an additional 31,412 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of California Water Service Group by 55.7% during the third quarter. JPMorgan Chase & Co. now owns 161,661 shares of the utilities provider’s stock valued at $8,765,000 after acquiring an additional 57,811 shares during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of California Water Service Group in the fourth quarter worth $234,000. Institutional investors own 82.78% of the company’s stock.

California Water Service Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Monday, February 10th. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s payout ratio is currently 36.70%.

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.