Research Analysts Set Expectations for CWT FY2024 Earnings

California Water Service Group (NYSE:CWT) – Stock analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of California Water Service Group in a research report issued to clients and investors on Thursday, November 14th. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings per share of $3.31 for the year, down from their previous estimate of $3.36. The consensus estimate for California Water Service Group’s current full-year earnings is $3.29 per share. Zacks Research also issued estimates for California Water Service Group’s Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.36 EPS, Q1 2026 earnings at $0.18 EPS, Q2 2026 earnings at $0.40 EPS, Q3 2026 earnings at $1.15 EPS and FY2026 earnings at $2.48 EPS.

Separately, Wells Fargo & Company raised California Water Service Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $50.00 to $57.00 in a report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.67.

California Water Service Group Trading Up 1.6 %

NYSE:CWT opened at $50.97 on Monday. California Water Service Group has a 1 year low of $43.50 and a 1 year high of $56.25. The stock has a market cap of $3.03 billion, a P/E ratio of 14.73 and a beta of 0.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a 50-day simple moving average of $52.72 and a 200-day simple moving average of $51.86.

California Water Service Group (NYSE:CWT) last issued its quarterly earnings results on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The firm had revenue of $299.60 million during the quarter, compared to analysts’ expectations of $289.55 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 17.5% compared to the same quarter last year.

Institutional Trading of California Water Service Group

Several hedge funds have recently made changes to their positions in CWT. Blue Trust Inc. lifted its holdings in shares of California Water Service Group by 255.6% in the 3rd quarter. Blue Trust Inc. now owns 505 shares of the utilities provider’s stock valued at $27,000 after buying an additional 363 shares during the period. GAMMA Investing LLC lifted its holdings in California Water Service Group by 109.9% in the second quarter. GAMMA Investing LLC now owns 823 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 431 shares during the period. CWM LLC boosted its position in shares of California Water Service Group by 90.8% during the 2nd quarter. CWM LLC now owns 1,349 shares of the utilities provider’s stock worth $65,000 after purchasing an additional 642 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of California Water Service Group during the 2nd quarter worth $85,000. Finally, nVerses Capital LLC purchased a new position in shares of California Water Service Group in the 3rd quarter valued at about $119,000. Institutional investors and hedge funds own 82.78% of the company’s stock.

Insider Activity

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $54.33, for a total transaction of $30,153.15. Following the completion of the sale, the director now directly owns 22,506 shares of the company’s stock, valued at $1,222,750.98. This represents a 2.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.73% of the company’s stock.

California Water Service Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be given a dividend of $0.28 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.20%. California Water Service Group’s dividend payout ratio (DPR) is presently 32.37%.

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.