H2O America (NASDAQ:HTO) Announces Earnings Results, Beats Estimates By $0.04 EPS

Key Points

• H2O America reported quarterly earnings of $0.75 EPS, surpassing the consensus estimate of $0.71 EPS by $0.04.
• The company's stock price fell by $0.83 to $47.78 following the earnings release, with a trading volume of 212,657 shares.
• Wells Fargo raised its target price for H2O America shares from $57.00 to $60.00 while maintaining an "equal weight" rating.

H2O America (NASDAQ:HTO - Get Free Report) released its quarterly earnings results on Monday. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.04, Zacks reports. The business had revenue of $198.26 million for the quarter, compared to the consensus estimate of $183.26 million. H2O America had a return on equity of 7.67% and a net margin of 13.03%.

H2O America Trading Up 1.7%

Shares of NASDAQ:HTO traded up $0.82 during trading on Friday, reaching $49.11. 40,959 shares of the company traded hands, compared to its average volume of 267,506. The company has a current ratio of 0.64, a quick ratio of 0.66 and a debt-to-equity ratio of 1.15. H2O America has a 52-week low of $44.91 and a 52-week high of $61.97. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 16.10, a P/E/G ratio of 2.50 and a beta of 0.53. The business's fifty day moving average is $52.51 and its 200-day moving average is $52.14.

H2O America Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be given a $0.42 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.68 annualized dividend and a yield of 3.4%. H2O America's payout ratio is presently 55.08%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HTO shares. Wall Street Zen began coverage on shares of H2O America in a research note on Thursday, May 22nd. They set a "hold" rating on the stock. Wells Fargo & Company reduced their target price on shares of H2O America from $60.00 to $58.00 and set an "equal weight" rating on the stock in a report on Wednesday.

About H2O America

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.