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) posted its earnings results on Monday. The utilities provider reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.71 by $0.04, Zacks reports. H2O America had a net margin of 13.03% and a return on equity of 7.81%. The business had revenue of $198.26 million for the quarter, compared to the consensus estimate of $183.26 million.

H2O America Trading Up 0.7%

Shares of NASDAQ HTO traded up $0.35 during midday trading on Wednesday, reaching $48.85. 173,720 shares of the stock were exchanged, compared to its average volume of 266,874. The stock has a market capitalization of $1.67 billion, a P/E ratio of 16.02, a PEG ratio of 2.45 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.66 and a current ratio of 0.66. The company has a 50 day simple moving average of $52.73 and a 200 day simple moving average of $52.21. H2O America has a twelve month low of $44.91 and a twelve month high of $61.97.

H2O America Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Monday, August 11th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, August 11th. H2O America's dividend payout ratio (DPR) is presently 56.38%.

Analysts Set New Price Targets

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