$119.40 Million in Sales Expected for SJW Group (NYSE:SJW) This Quarter

Thursday, April 8, 2021 | MarketBeat

Brokerages expect SJW Group (NYSE:SJW) to announce sales of $119.40 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for SJW Group's earnings, with the lowest sales estimate coming in at $119.00 million and the highest estimate coming in at $119.80 million. SJW Group posted sales of $115.75 million in the same quarter last year, which would indicate a positive year over year growth rate of 3.2%. The company is expected to issue its next quarterly earnings report on Monday, May 3rd.

According to Zacks, analysts expect that SJW Group will report full-year sales of $581.36 million for the current fiscal year, with estimates ranging from $569.00 million to $593.71 million. For the next fiscal year, analysts forecast that the firm will report sales of $596.95 million, with estimates ranging from $584.00 million to $609.90 million. Zacks' sales averages are a mean average based on a survey of sell-side analysts that cover SJW Group.

SJW Group (NYSE:SJW) last posted its quarterly earnings results on Thursday, February 18th. The utilities provider reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.12. SJW Group had a return on equity of 6.72% and a net margin of 7.71%. The company had revenue of $135.70 million during the quarter, compared to the consensus estimate of $129.99 million.

Several analysts have recently issued reports on SJW shares. Zacks Investment Research lowered shares of SJW Group from a "hold" rating to a "sell" rating in a research report on Tuesday, January 5th. Wells Fargo & Company downgraded SJW Group from an "equal weight" rating to an "underweight" rating in a research report on Wednesday, January 6th. Finally, TheStreet lowered SJW Group from a "b" rating to a "c+" rating in a report on Friday, March 12th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. SJW Group presently has a consensus rating of "Hold" and an average price target of $70.33.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of SJW Group during the 4th quarter valued at $20,658,000. Amundi Pioneer Asset Management Inc. purchased a new position in SJW Group during the first quarter worth about $16,536,000. BlackRock Inc. grew its position in SJW Group by 7.2% during the fourth quarter. BlackRock Inc. now owns 2,259,033 shares of the utilities provider's stock worth $156,686,000 after buying an additional 152,573 shares in the last quarter. FMR LLC increased its stake in SJW Group by 24.5% in the 1st quarter. FMR LLC now owns 548,854 shares of the utilities provider's stock worth $33,886,000 after acquiring an additional 108,003 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of SJW Group by 3.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,811,159 shares of the utilities provider's stock valued at $125,622,000 after acquiring an additional 53,838 shares in the last quarter. Institutional investors and hedge funds own 69.24% of the company's stock.

Shares of NYSE:SJW opened at $63.73 on Thursday. The firm has a market capitalization of $1.82 billion, a PE ratio of 42.77, a P/E/G ratio of 2.07 and a beta of 0.31. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.43. The company has a 50-day moving average price of $62.66 and a two-hundred day moving average price of $65.63. SJW Group has a twelve month low of $50.85 and a twelve month high of $71.69.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Monday, February 8th were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $1.36 annualized dividend and a yield of 2.13%. This is a boost from SJW Group's previous quarterly dividend of $0.19. SJW Group's payout ratio is currently 76.40%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities in Connecticut; and a Linebacker protection plan for public drinking water customers, as well as offers repair or replace a leaking or broken water service line, curb box, curb box cover, meter pit, meter pit cover, and meter pit valve.

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