FY2027 Earnings Forecast for CWT Issued By Seaport Res Ptn

California Water Service Group (NYSE:CWT) – Equities research analysts at Seaport Res Ptn dropped their FY2027 EPS estimates for shares of California Water Service Group in a report issued on Friday, April 11th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $2.78 per share for the year, down from their prior forecast 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 announced its earnings results on Thursday, February 27th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.05). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The company had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $216.37 million. During the same quarter last year, the firm posted $0.52 earnings per share.

Several other brokerages have also issued reports on CWT. Wells Fargo & Company raised California Water Service Group from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. StockNews.com raised shares of California Water Service Group from a “sell” rating to a “hold” rating in a research note on Friday, April 11th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $54.67.

California Water Service Group Price Performance

Shares of California Water Service Group stock opened at $50.81 on Monday. The firm has a market capitalization of $3.02 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 0.64. California Water Service Group has a 12 month low of $41.64 and a 12 month high of $56.25. The business’s 50-day moving average price is $46.88 and its 200-day moving average price is $48.04.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Monday, February 10th were paid a $0.30 dividend. This is a boost from California Water Service Group’s previous quarterly dividend of $0.28. 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. California Water Service Group’s payout ratio is 36.70%.

Institutional Trading of California Water Service Group

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC increased its stake in shares of California Water Service Group by 135.8% in the third quarter. Barclays PLC now owns 119,645 shares of the utilities provider’s stock worth $6,486,000 after buying an additional 68,914 shares during the period. Geode Capital Management LLC increased its position 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 acquiring an additional 24,275 shares during the period. Franklin Resources Inc. increased its position in shares of California Water Service Group by 117.0% in the third quarter. Franklin Resources Inc. now owns 58,258 shares of the utilities provider’s stock valued at $3,100,000 after acquiring an additional 31,412 shares during the period. JPMorgan Chase & Co. raised its stake 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 last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of California Water Service Group during the fourth quarter worth about $234,000. Institutional investors own 82.78% of the company’s stock.

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.