York Water (NASDAQ:YORW) Releases Earnings Results, Beats Estimates By $0.01 EPS

Key Points

• York Water beat quarterly estimates, reporting EPS of $0.48 versus $0.47 expected and revenue of $24.33 million versus $22.60 million expected.
• The company paid a quarterly dividend of $0.228 per share, equivalent to an annualized $0.91 and a 2.8% yield.
• Analyst consensus remained Hold, with an average price target of $31.00.

York Water (NASDAQ:YORW - Get Free Report) posted its quarterly earnings data on Friday. The utilities provider reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.47 by $0.01, Zacks reports. York Water had a return on equity of 9.38% and a net margin of 28.53%. The company had revenue of $24.33 million for the quarter, compared to analyst estimates of $22.60 million.

York Water Stock Performance

NASDAQ YORW traded up $0.40 on Friday, hitting $32.62. 103,972 shares of the stock were exchanged, compared to its average volume of 140,667. York Water has a 52 week low of $28.26 and a 52 week high of $34.81. The company has a market capitalization of $529.39 million, a PE ratio of 20.26 and a beta of 0.52. The business's fifty day moving average is $31.95 and its 200 day moving average is $31.42. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.05 and a quick ratio of 0.88.

York Water Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.2280 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.8%. York Water's dividend payout ratio is currently 56.52%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on YORW shares. Cantor Fitzgerald set a $31.00 price target on shares of York Water in a report on Monday, August 10th. Weiss Ratings reissued a "hold (c)" rating on shares of York Water in a report on Friday, October 30th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, York Water currently has a consensus rating of "Hold" and an average target price of $31.00.

Insider Buying and Selling

In related news, CEO Joseph Hand sold 8,000 shares of York Water stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $33.28, for a total transaction of $266,240.00. Following the completion of the sale, the chief executive officer owned 35,308 shares of the company's stock, valued at approximately $1,175,050.24. The trade was a 18.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David M. Velazquez bought 1,288 shares of the stock in a transaction dated Tuesday, October 20th. The shares were purchased at an average price of $31.07 per share, for a total transaction of $40,018.16. Following the purchase, the director owned 1,288 shares of the company's stock, valued at $40,018.16. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders bought 1,410 shares of company stock valued at $44,024. Insiders own 0.50% of the company's stock.

About York Water

The York Water Company NASDAQ: YORW is a regulated water utility serving communities in south-central Pennsylvania. The company provides residential, commercial and industrial customers with treated drinking water through a network of reservoirs, treatment facilities, pipelines and distribution infrastructure.

In addition to its water operations, York Water provides wastewater collection and related services in portions of its service territory. Its operations primarily cover York County and extend into surrounding areas, including parts of Adams and Franklin counties.

Founded in 1816, York Water is recognized as one of the oldest investor-owned water utilities in the United States.

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