What is Seaport Res Ptn's Forecast for CWT FY2028 Earnings?

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California Water Service Group (NYSE:CWT - Free Report) - Research analysts at Seaport Res Ptn lowered their FY2028 EPS estimates for shares of California Water Service Group in a report released on Monday, November 3rd. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $2.69 for the year, down from their previous estimate of $3.05. The consensus estimate for California Water Service Group's current full-year earnings is $3.15 per share.

California Water Service Group (NYSE:CWT - Get Free Report) last issued its earnings results on Thursday, October 30th. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.20 by ($0.17). California Water Service Group had a net margin of 13.71% and a return on equity of 8.28%. The business had revenue of $311.24 million during the quarter, compared to the consensus estimate of $321.35 million. During the same period last year, the business posted $1.03 EPS. The firm's revenue for the quarter was up 3.9% compared to the same quarter last year.

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Several other research analysts have also issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of California Water Service Group in a research report on Wednesday, October 8th. Wall Street Zen upgraded California Water Service Group from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Robert W. Baird set a $55.00 target price on California Water Service Group in a report on Friday. Finally, Wells Fargo & Company reduced their price objective on shares of California Water Service Group from $59.00 to $55.00 and set an "overweight" rating on the stock in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, California Water Service Group has an average rating of "Buy" and an average price target of $55.67.

Check Out Our Latest Stock Report on CWT

California Water Service Group Price Performance

Shares of CWT stock opened at $47.11 on Wednesday. California Water Service Group has a 52-week low of $41.64 and a 52-week high of $52.71. The stock has a market cap of $2.81 billion, a PE ratio of 20.57, a PEG ratio of 2.25 and a beta of 0.68. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.50 and a current ratio of 0.53. The firm's 50 day moving average price is $46.66 and its two-hundred day moving average price is $46.77.

Institutional Investors Weigh In On California Water Service Group

Institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its position in shares of California Water Service Group by 3,318.8% during the third quarter. Farther Finance Advisors LLC now owns 547 shares of the utilities provider's stock worth $25,000 after purchasing an additional 531 shares during the period. EverSource Wealth Advisors LLC raised its holdings in California Water Service Group by 109.9% during the second quarter. EverSource Wealth Advisors LLC now owns 697 shares of the utilities provider's stock worth $32,000 after buying an additional 365 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in California Water Service Group during the first quarter worth $34,000. Whittier Trust Co. acquired a new stake in shares of California Water Service Group in the 2nd quarter worth about $36,000. Finally, Hantz Financial Services Inc. raised its holdings in shares of California Water Service Group by 291.1% in the 3rd quarter. Hantz Financial Services Inc. now owns 880 shares of the utilities provider's stock worth $40,000 after acquiring an additional 655 shares during the last quarter. 82.78% of the stock is owned by institutional investors.

California Water Service Group Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Monday, November 10th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a $1.20 dividend on an annualized basis and a yield of 2.5%. California Water Service Group's payout ratio is presently 52.40%.

About California Water Service Group

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.

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