American Water Works (NYSE:AWK) Posts Earnings Results, Misses Estimates By $0.03 EPS

American Water Works (NYSE:AWK) released its earnings results on Wednesday. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.03), Briefing.com reports. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $962.30 million. American Water Works had a net margin of 22.27% and a return on equity of 9.79%. American Water Works’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.91 earnings per share. American Water Works updated its FY24 guidance to $5.20-$5.30 EPS and its FY 2024 guidance to 5.200-5.300 EPS.

American Water Works Trading Up 2.2 %

NYSE:AWK traded up $2.80 during trading hours on Friday, hitting $128.75. 1,710,455 shares of the company were exchanged, compared to its average volume of 1,497,040. American Water Works has a one year low of $113.34 and a one year high of $151.24. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.20. The company has a fifty day simple moving average of $119.33 and a 200 day simple moving average of $124.29. The stock has a market capitalization of $25.08 billion, a price-to-earnings ratio of 26.12, a price-to-earnings-growth ratio of 2.98 and a beta of 0.62.

American Water Works Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 14th will be paid a $0.765 dividend. This is an increase from American Water Works’s previous quarterly dividend of $0.71. This represents a $3.06 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date of this dividend is Monday, May 13th. American Water Works’s dividend payout ratio (DPR) is presently 57.40%.

Insider Buying and Selling at American Water Works

In other American Water Works news, EVP Melanie M. Kennedy sold 843 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $119.59, for a total value of $100,814.37. Following the transaction, the executive vice president now directly owns 16,240 shares of the company’s stock, valued at $1,942,141.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

Wall Street Analyst Weigh In

AWK has been the subject of several recent analyst reports. Evercore ISI lowered American Water Works from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $160.00 to $135.00 in a research note on Friday, February 16th. StockNews.com lowered American Water Works from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd.

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.