California Water Service Group (NYSE:CWT) Posts Quarterly Earnings Results, Misses Estimates By $0.05 EPS

California Water Service Group (NYSE:CWT) announced its earnings results on Thursday. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05), Zacks reports. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. During the same period in the prior year, the company posted $0.52 EPS.

California Water Service Group Stock Down 3.5 %

NYSE CWT traded down $1.62 during mid-day trading on Thursday, reaching $44.34. The stock had a trading volume of 265,578 shares, compared to its average volume of 365,904. The stock has a market cap of $2.64 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.46 and a beta of 0.52. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.60. The company has a fifty day moving average price of $44.78 and a 200 day moving average price of $49.68. California Water Service Group has a 1 year low of $41.64 and a 1 year high of $56.25.

California Water Service Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Monday, February 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.20 annualized dividend and a dividend yield of 2.71%. This is an increase from California Water Service Group’s previous quarterly dividend of $0.28. California Water Service Group’s dividend payout ratio is presently 34.68%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. StockNews.com upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Saturday, February 8th. Wells Fargo & Company raised shares of California Water Service Group from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $56.00 to $52.00 in a research note on Tuesday, January 7th. Finally, Bank of America assumed coverage on California Water Service Group in a research report on Wednesday, December 11th. They set a “buy” rating and a $57.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.25.

About California Water Service Group

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