California Water Service Group (NYSE:CWT) Posts Earnings Results, Misses Estimates By $0.48 EPS

California Water Service Group (NYSE:CWT) posted its quarterly earnings data on Thursday. The utilities provider reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.59 by ($0.48), MarketWatch Earnings reports. California Water Service Group had a return on equity of 5.04% and a net margin of 5.45%. The company had revenue of $175.48 million for the quarter, compared to analysts’ expectations of $228.74 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue for the quarter was down 2.0% on a year-over-year basis.

NYSE:CWT traded down $1.17 during midday trading on Friday, hitting $46.87. 961,058 shares of the company were exchanged, compared to its average volume of 216,391. The company has a fifty day simple moving average of $47.53 and a 200 day simple moving average of $49.44. California Water Service Group has a fifty-two week low of $39.74 and a fifty-two week high of $57.48. The company has a current ratio of 0.46, a quick ratio of 0.51 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $2.28 billion and a PE ratio of 57.86.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Monday, August 10th will be paid a dividend of $0.213 per share. The ex-dividend date is Friday, August 7th. This represents a $0.85 annualized dividend and a yield of 1.82%. California Water Service Group’s dividend payout ratio is currently 64.89%.

A number of equities research analysts have recently weighed in on CWT shares. ValuEngine lowered shares of California Water Service Group from a “buy” rating to a “hold” rating in a report on Wednesday, April 22nd. Janney Montgomery Scott upgraded shares of California Water Service Group from a “neutral” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Friday, May 1st. Seaport Global Securities started coverage on shares of California Water Service Group in a research note on Wednesday, May 20th. They set a “neutral” rating on the stock. TheStreet lowered shares of California Water Service Group from a “b-” rating to a “c” rating in a research note on Thursday, May 14th. Finally, Zacks Investment Research lowered shares of California Water Service Group from a “hold” rating to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. California Water Service Group has an average rating of “Hold” and a consensus price target of $54.25.

About California Water Service Group

California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, and Hawaii. It 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.

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Earnings History for California Water Service Group (NYSE:CWT)

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