California Water Service Group (NYSE:CWT) Rating Lowered to Sell at Wall Street Zen

California Water Service Group (NYSE:CWT - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

Several other equities analysts have also recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of California Water Service Group from $54.00 to $59.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Seaport Res Ptn upgraded shares of California Water Service Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, April 11th.

California Water Service Group Stock Performance

CWT traded up $0.02 during midday trading on Friday, hitting $47.04. 374,686 shares of the company traded hands, compared to its average volume of 332,530. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $2.80 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.46 and a beta of 0.70. The company's 50-day moving average is $48.43 and its 200 day moving average is $47.28. California Water Service Group has a 52 week low of $41.64 and a 52 week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.06. The business had revenue of $203.97 million for the quarter, compared to analysts' expectations of $194.80 million. California Water Service Group had a net margin of 19.56% and a return on equity of 13.24%. The business's revenue for the quarter was down 24.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.21 EPS. On average, research analysts expect that California Water Service Group will post 3.15 EPS for the current year.

Institutional Investors Weigh In On California Water Service Group

Institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its holdings in California Water Service Group by 751.3% during the 1st quarter. Versant Capital Management Inc now owns 681 shares of the utilities provider's stock valued at $33,000 after buying an additional 601 shares in the last quarter. Banque Cantonale Vaudoise purchased a new stake in California Water Service Group during the 1st quarter valued at approximately $34,000. Parkworth Wealth Management Inc. purchased a new stake in California Water Service Group during the 4th quarter valued at approximately $50,000. Sterling Capital Management LLC grew its holdings in California Water Service Group by 785.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,435 shares of the utilities provider's stock valued at $65,000 after buying an additional 1,273 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in California Water Service Group during the 1st quarter valued at approximately $74,000. 82.78% of the stock is owned by hedge funds and other institutional investors.

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.