According to Bloomberg Ratings, all four brokerages that provide coverage for California Water Service Group (NYSE: CWT) have assigned the stock a rating of “Hold” as their collective recommendation for the stock. This rating represents the brokerages’ consensus view regarding the stock. The three analysts on the panel concluded that the stock should be held, which was the recommendation that received the most votes. Most analysts who rated the stock in the previous year set the stock’s one-year price target at $65.00. This is the average price target that they have assigned to the stock.
In recent times, CWT has been the subject of concentration for various separate analyst investigations. A report on the California Water Service Group was compiled by the UBS Group and released on November 30. The report’s subject was the California Water Service Group. They provided the company’s stock with a “neutral” rating and projected that the share price would reach $67.01 within the next three months. Wells Fargo & Company stated that they had increased their price objective for California Water Service Group to $63.00 in a research report that was made public on Wednesday, December 14. Finally, but certainly not least, StockNews.com changed its rating for California Water Service Group from “sell” to “hold” in a report made public on Monday, October 31.
CWT stock was first offered for trading on Thursday for $61.64 per share. The stock’s price is currently trading at $62.60 above its 50-day simple moving average and $59.62 below its 200-day simple moving average. A price-to-earnings ratio of 41.65 has been assigned to the company’s stock, and its beta value is 0.45. The total value of the company’s stock on the market is equal to 3.38 billion dollars. There is a current ratio of 1.05, a quick ratio of 1.02, and a debt-to-equity ratio of 0.82. The quick ratio is 1.02, and the debt-to-equity ratio is 0.82. The lowest price that California Water Service Group has been for the past 52 weeks is $48.46, and the highest price that the company has been for the past 52 weeks is $66.12.
The results of California Water Service Group’s most recent quarterly financial report were made public on Thursday, October 27, by the company’s disclosure on the NYSE under the symbol CWT. The company that offers utilities announced earnings per share for the quarter of $1.03, which is $0.13 below the average estimate of $1.16. While California Water Service Group had a return on equity of 6.61 percent, the company’s net margin was 9.76 percent. The actual quarterly sales for the company came in at $266.31 million, which is substantially higher than the estimate of $255.00 million that industry professionals provided. During the current fiscal year, California Water Service Group is expected to generate earnings of 1.6 cents per share, as stated by the projections of professionals who specialize in research.
In addition, the company just declared and distributed a quarterly dividend, which was distributed on November 18 of this year. On Monday, November 7, dividend payments were made to shareholders whose information was already on record for $0.25 per share. This past Friday, November 4, was the date customers were required to pay the dividend. This equates to an annual dividend payment of $1 and a dividend yield of 1.62% for the stock. This brings California Water Service Group’s dividend payout ratio (DPR) up to its