California Water Service Group (CWT) Rating Lowered to Underperform at Hilliard Lyons

California Water Service Group (NYSE:CWT) was downgraded by Hilliard Lyons from a “neutral” rating to an “underperform” rating in a research report issued on Wednesday.

Several other equities research analysts have also recently commented on CWT. Barclays raised their target price on shares of California Water Service Group from $30.00 to $32.00 and gave the stock an “underweight” rating in a research report on Friday, September 22nd. Zacks Investment Research raised shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. California Water Service Group presently has a consensus rating of “Hold” and an average target price of $38.33.

California Water Service Group (NYSE CWT) traded up $1.05 during trading hours on Wednesday, hitting $43.80. 256,401 shares of the stock traded hands, compared to its average volume of 240,469. California Water Service Group has a 12-month low of $32.75 and a 12-month high of $46.15. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.47. The stock has a market cap of $2,076.66, a PE ratio of 30.85, a price-to-earnings-growth ratio of 5.08 and a beta of 0.74.

California Water Service Group (NYSE:CWT) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.02. California Water Service Group had a net margin of 10.46% and a return on equity of 10.31%. The firm had revenue of $211.70 million during the quarter, compared to analysts’ expectations of $203.00 million. During the same period last year, the company posted $0.48 EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year. equities research analysts expect that California Water Service Group will post 1.33 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in California Water Service Group by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,985,488 shares of the utilities provider’s stock valued at $183,466,000 after acquiring an additional 63,704 shares during the period. Impax Asset Management LTD lifted its position in California Water Service Group by 4.0% during the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after acquiring an additional 73,467 shares during the period. Dimensional Fund Advisors LP lifted its position in California Water Service Group by 0.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,625,445 shares of the utilities provider’s stock valued at $62,011,000 after acquiring an additional 6,427 shares during the period. State Street Corp lifted its position in California Water Service Group by 4.7% during the 2nd quarter. State Street Corp now owns 1,272,477 shares of the utilities provider’s stock valued at $46,820,000 after acquiring an additional 57,115 shares during the period. Finally, Northern Trust Corp lifted its position in California Water Service Group by 1.7% during the 2nd quarter. Northern Trust Corp now owns 746,563 shares of the utilities provider’s stock valued at $27,473,000 after acquiring an additional 12,513 shares during the period. 69.54% of the stock is owned by hedge funds and other institutional investors.

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California Water Service Group Company Profile

California Water Service Group is a holding company. The Company operates through the supply and distribution of water and providing water-related utility services segment. The Company, through its subsidiaries, provides non-regulated services and non-regulated services to private companies and municipalities.

Analyst Recommendations for California Water Service Group (NYSE:CWT)

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