California Water Service Group (NYSE:CWT) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be given a dividend of 0.213 per share by the utilities provider on Friday, August 21st. This represents a $0.85 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Friday, August 7th.
California Water Service Group has raised its dividend by an average of 14.5% per year over the last three years and has raised its dividend every year for the last 52 years. California Water Service Group has a dividend payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect California Water Service Group to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.85 annual dividend with an expected future payout ratio of 49.7%.
Shares of CWT stock traded down $0.27 during trading hours on Friday, hitting $47.77. 1,816 shares of the company were exchanged, compared to its average volume of 208,473. The firm has a market cap of $2.41 billion and a PE ratio of 45.75. California Water Service Group has a 1 year low of $39.74 and a 1 year high of $57.48. The company has a quick ratio of 0.51, a current ratio of 0.53 and a debt-to-equity ratio of 1.04. The firm has a fifty day moving average of $47.52 and a 200 day moving average of $49.45.
California Water Service Group (NYSE:CWT) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by ($0.48). The company had revenue of $175.48 million for the quarter, compared to analysts’ expectations of $228.74 million. California Water Service Group had a return on equity of 6.69% and a net margin of 7.07%. The company’s revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.35 earnings per share. Analysts expect that California Water Service Group will post 1.43 earnings per share for the current year.
Several brokerages have recently weighed in on CWT. Seaport Global Securities began coverage on shares of California Water Service Group in a report on Wednesday, May 20th. They set a “neutral” rating on the stock. Wells Fargo & Co cut their price target on shares of California Water Service Group from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Friday, May 1st. Janney Montgomery Scott upgraded shares of California Water Service Group from a “neutral” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Friday, May 1st. TheStreet lowered shares of California Water Service Group from a “b-” rating to a “c” rating in a report on Thursday, May 14th. Finally, Zacks Investment Research upgraded shares of California Water Service Group from a “sell” rating to a “hold” rating in a report on Wednesday, April 8th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $54.25.
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, 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.
Read More: Marijuana Stocks Investing Considerations
Receive News & Ratings for California Water Service Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for California Water Service Group and related companies with MarketBeat.com's FREE daily email newsletter.