SJW Group (NYSE:SJW) Updates FY 2024 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share guidance of 2.680-2.780 for the period, compared to the consensus earnings per share estimate of 2.760. The company issued revenue guidance of -. SJW Group also updated its FY24 guidance to $2.68-2.78 EPS.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. StockNews.com upgraded SJW Group from a sell rating to a hold rating in a report on Friday. Seaport Res Ptn upgraded SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. Finally, Wells Fargo & Company lifted their price objective on SJW Group from $61.00 to $62.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $66.00.

SJW Group Trading Down 2.4 %

SJW opened at $53.50 on Monday. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.55 and a quick ratio of 0.58. The company’s 50 day simple moving average is $55.82 and its two-hundred day simple moving average is $60.54. SJW Group has a 1-year low of $51.37 and a 1-year high of $78.42. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 20.11, a price-to-earnings-growth ratio of 2.59 and a beta of 0.58.

SJW Group (NYSE:SJW) last released its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). SJW Group had a return on equity of 6.98% and a net margin of 12.48%. The business had revenue of $171.34 million during the quarter, compared to analysts’ expectations of $161.23 million. During the same period last year, the business earned $1.09 earnings per share. Analysts expect that SJW Group will post 2.75 EPS for the current fiscal year.

SJW Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s payout ratio is presently 60.15%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.