What is Zacks Research's Forecast for CWT FY2027 Earnings?

Key Points

• Zacks Research has raised its FY2027 earnings forecast for California Water Service Group (CWT) to $2.66 per share, slightly up from a prior estimate of $2.65, while the consensus estimate remains higher at $3.15 per share.
• The stock has recently faced mixed ratings from analysts, with Wells Fargo upping its price target to $59.00 and Wall Street Zen downgrading it to a "sell."
• California Water Service Group reported a quarterly dividend of $0.30 per share, yielding approximately 2.67%, and has a payout ratio of 52.63%.

California Water Service Group (NYSE:CWT - Free Report) - Investment analysts at Zacks Research upped their FY2027 EPS estimates for California Water Service Group in a research note issued on Friday, July 25th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings per share of $2.66 for the year, up from their prior forecast of $2.65. The consensus estimate for California Water Service Group's current full-year earnings is $3.15 per share.

Several other analysts also recently commented on the company. Wells Fargo & Company raised their target price on 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. Wall Street Zen downgraded California Water Service Group from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. Finally, Seaport Res Ptn raised California Water Service Group from a "hold" rating to a "strong-buy" rating in a research report on Friday, April 11th.

California Water Service Group Trading Down 1.1%

Shares of CWT stock traded down $0.51 during trading hours on Monday, hitting $44.36. 280,292 shares of the company were exchanged, compared to its average volume of 289,622. The company has a 50 day simple moving average of $46.13 and a two-hundred day simple moving average of $46.64. The firm has a market cap of $2.64 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.21 and a beta of 0.64. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.49 and a current ratio of 0.53. California Water Service Group has a fifty-two week low of $41.64 and a fifty-two week high of $56.25.

California Water Service Group (NYSE:CWT - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.16 by $0.06. California Water Service Group had a return on equity of 8.32% and a net margin of 13.84%. The company had revenue of $203.97 million for the quarter, compared to analyst estimates of $194.80 million. During the same quarter in the prior year, the company earned $1.21 EPS. The firm's revenue for the quarter was down 24.7% compared to the same quarter last year.

Institutional Investors Weigh In On California Water Service Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CWT. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of California Water Service Group by 2.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,806 shares of the utilities provider's stock valued at $524,000 after purchasing an additional 272 shares during the last quarter. Choreo LLC boosted its stake in shares of California Water Service Group by 6.6% in the 1st quarter. Choreo LLC now owns 4,766 shares of the utilities provider's stock worth $231,000 after buying an additional 294 shares during the last quarter. Corient Private Wealth LLC grew its position in California Water Service Group by 3.6% during the fourth quarter. Corient Private Wealth LLC now owns 9,420 shares of the utilities provider's stock valued at $427,000 after buying an additional 327 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of California Water Service Group by 1.0% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 38,438 shares of the utilities provider's stock valued at $1,863,000 after acquiring an additional 373 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in California Water Service Group by 3.2% in the 4th quarter. Commonwealth Equity Services LLC now owns 12,228 shares of the utilities provider's stock worth $554,000 after acquiring an additional 382 shares in the last quarter. 82.78% of the stock is currently owned by institutional investors.

Insider Transactions at California Water Service Group

In related news, Director Lester A. Snow sold 1,200 shares of the stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $46.51, for a total transaction of $55,812.00. Following the sale, the director owned 26,349 shares of the company's stock, valued at approximately $1,225,491.99. This represents a 4.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.73% of the company's stock.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Monday, May 12th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.71%. The ex-dividend date was Monday, May 12th. California Water Service Group's dividend payout ratio (DPR) is currently 52.63%.

California Water Service Group Company Profile

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.