SJW Group (NYSE:SJW) Issues FY24 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $2.68-2.78 for the period, compared to the consensus EPS estimate of $2.76.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SJW. StockNews.com raised shares of SJW Group from a sell rating to a hold rating in a research note on Friday, April 26th. Wells Fargo & Company raised their target price on shares of SJW Group from $62.00 to $63.00 and gave the company an equal weight rating in a research note on Friday. Four 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.com, SJW Group presently has an average rating of Hold and an average target price of $66.33.

SJW Group Trading Down 1.3 %

SJW stock opened at $60.87 on Friday. The company has a debt-to-equity ratio of 1.22, a current ratio of 0.49 and a quick ratio of 0.55. The company has a fifty day moving average price of $55.26 and a two-hundred day moving average price of $56.73. SJW Group has a one year low of $51.17 and a one year high of $72.17. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 2.95 and a beta of 0.61.

SJW Group (NYSE:SJW) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. The firm had revenue of $149.38 million during the quarter, compared to analysts’ expectations of $140.60 million. Equities analysts anticipate that SJW Group will post 2.75 EPS for the current year.

SJW Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, August 5th. This represents a $1.60 dividend on an annualized basis and a yield of 2.63%. SJW Group’s dividend payout ratio (DPR) is 60.15%.

Insiders Place Their Bets

In other news, insider Craig J. Patla sold 1,400 shares of the business’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $55.62, for a total value of $77,868.00. Following the completion of the sale, the insider now owns 3,300 shares of the company’s stock, valued at $183,546. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.

About SJW Group

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.