Financial transaction

California Water Service Group (CWT) to release results Thursday

California Water Service Group (NYSE: CWT – Get a rating) is expected to release its earnings data before the market opens on Thursday, October 27. Analysts expect California Water Service Group to post earnings of $1.19 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

California Water Service Group (NYSE: CWT – Get a rating) last released its results on Thursday, July 28. The utility provider reported EPS of $0.36 for the quarter, missing analyst consensus estimates of $0.60 per ($0.24). California Water Service Group achieved a return on equity of 7.39% and a net margin of 10.69%. The company posted revenue of $206.19 million for the quarter, versus analyst estimates of $223.00 million. During the same quarter last year, the company posted EPS of $0.75. On average, analysts expect California Water Service Group to post EPS of $2 for the current fiscal year and EPS of $2 for the next fiscal year.

California Water Service Group shares down 1.0%

CWT opened at $55.85 on Thursday. The company’s 50-day simple moving average is $58.01 and its 200-day simple moving average is $56.08. The company has a debt ratio of 0.87, a quick ratio of 0.93 and a current ratio of 0.97. California Water Service Group has a one-year low of $48.46 and a one-year high of $72.08. The stock has a market capitalization of $3.04 billion, a P/E ratio of 33.85 and a beta of 0.39.

California Water Service Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 19. Investors of record on Monday August 8 received a dividend of $0.25 per share. This represents a dividend of $1.00 on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, August 5. California Water Service Group’s dividend payout ratio is currently 60.61%.

Wall Street analysts predict growth

Separately, StockNews.com began covering the California Water Service Group in a research note on Wednesday, October 12. They put a “sell” mark on the stock.

Insider buying and selling

In related news, the director Lester A. Snow sold 1,000 shares of California Water Service Group in a trade that took place on Friday, August 19. The stock was sold at an average price of $63.04, for a total transaction of $63,040.00. Following completion of the transaction, the administrator now directly owns 19,874 shares of the company, valued at approximately $1,252,856.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, available at the SEC website. In other news from California Water Service Group, Vice Chairman Michael B. Luu sold 425 shares of the company in a trade dated Wednesday, August 3. The shares were sold at an average price of $60.54, for a total value of $25,729.50. Following completion of the transaction, the vice president now directly owns 18,277 shares of the company, valued at approximately $1,106,489.58. The transaction was disclosed in a document filed with the SEC, accessible via this link. Additionally, director Lester A. Snow sold 1,000 shares of the company in a trade dated Friday, August 19. The shares were sold at an average price of $63.04, for a total transaction of $63,040.00. Following completion of the transaction, the administrator now directly owns 19,874 shares of the company, valued at $1,252,856.96. Disclosure of this sale can be found here. Insiders sold 2,640 shares of the company worth $159,782 in the past ninety days. Insiders own 0.97% of the shares of the company.

Hedge funds weigh on California Water Service Group

A number of institutional investors and hedge funds have recently increased or reduced their stake in CWT. Captrust Financial Advisors increased its position in California Water Service Group by 6.8% in the second quarter. Captrust Financial Advisors now owns 3,208 shares of the utility provider valued at $178,000 after buying an additional 205 shares in the last quarter. Centiva Capital LP acquired a new stake in California Water Service Group stock in Q2 valued at approximately $200,000. Cetera Investment Advisers acquired a new equity stake in California Water Service Group in Q1 valued at approximately $200,000. Walleye Trading LLC acquired a new stake in California Water Service Group stock in Q1 worth approximately $208,000. Finally, Cetera Advisor Networks LLC increased its stake in shares of California Water Service Group by 47.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,358 shares of the utility provider valued at $258,000 after buying an additional 1,401 shares in the last quarter. 80.07% of the shares are held by hedge funds and other institutional investors.

California Water Service Group Company Profile

(Get a rating)

California Water Service Group, through its subsidiaries, provides water and other related services in California, Washington, New Mexico, Hawaii and Texas. The company is involved in the production, purchase, storage, treatment, analysis, distribution and sale of water for domestic, industrial, public and irrigation use, as well as protection against fires.

Further reading

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

This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Before you consider California Water Service Group, you’ll want to hear this.

MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market goes higher…and California Water Service Group didn’t make the list.

While California Water Service Group currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the five actions here