The financial experts working for StockNews.com have begun providing coverage of the California Water Service Group company in a report made available to the public on Thursday.
The organization recommended to shareholders that they keep their current “hold” position in the stock of the utility provider.
On March 2, California Water Service Group (NYSE: CWT) made its most recent quarterly earnings report available to investors.
The company that provides utilities reported earnings for the quarter of $0.35 per share, which is $0.13 more than the analysts’ average projection of $0.22 per share for the company’s profits.
The actual sales for the quarter came in at $200.94 million, which is a sizeable increase from the average expectation of $180.14 million for the quarter’s revenue.
The return on equity and the net margin for California Water Service Group came in at 7.72% and 11.34%, respectively.
The company made a profit of $0.07 per share during the same period the year before compared to the current year.
Industry analysts forecast that California Water Service Group will generate earnings of 1.9 cents per share in the current fiscal year.
This is based on the company’s historical performance.
On Thursday, the stock traded under the symbol NYSE: CWT and opened at $56.73.
The values presented here are a debt-to-equity ratio of 0.80, a current ratio of 1.00, and a quick ratio of 0.96.
At the moment, the company’s share price is trading at $60.05, which is higher than its 200-day moving average price, which is $59.72.
The monthly cost of the California Water Service Group can range anywhere from $48.46 to $66.12 over an entire year.
The company carries a price-to-earnings ratio of 32.23, has a beta value of 0.48, and has a market capitalization of $3.15 billion.
Recent studies on the stock have been authored by several equity research experts and published recently.
The most recent events are the primary focus of these papers. UBS Group issued a report on November 30, a Wednesday, and announced that it would begin providing coverage of shares held by California Water Service Group.
They assigned a ” neutral ” rating to the company and determined that the price target should be $67.0. 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.
Recently, hedge funds have adjusted how they hold onto the shares. Wipfli Financial Advisors LLC increased its holdings in California Water Service Group during the third quarter by investing approximately $27,000.
This resulted in the firm owning a larger percentage of the company. Ruedi Wealth Management INC made a new investment totaling approximately $27,000 during the final three months of 2018.
The investment was made with the California Water Service Group.
During the fourth quarter, Belpointe Asset Management LLC increased its holdings in California Water Service Group by purchasing additional shares for nearly $28,000.
This allowed the company to increase its stake in the company.
The purchase of additional shares of California Water Service Group was responsible for an investment of approximately $31,000 by Grey Fox Financial Advisors LLC during the fourth quarter.
In the final three months of 2018, FinTrust Capital Advisors LLC made a new investment in California Water Service Group.
The value of this new investment was approximately $46,000.
To the tune of 79.01% of the stock, hedge funds, and other institutional investors hold ownership stakes in the company.
The California Water Service Group has wholly owned subsidiaries in California, Washington, New Mexico, and Hawaii.
These subsidiaries are responsible for the provision of water utilities as well as other services associated with this industry.
The company is responsible for the production of water and its acquisition, storage, treatment, testing, distribution, and sale for various purposes, including the consumption of the general public, the use of water in industrial settings, and the prevention of fires.