When it comes to investments, many individuals look towards companies that offer stability and consistency. California Water Service Group (NYSE:CWT) has been a staple in the utilities industry for years, offering reliable water services to various regions of California. On Friday, May 26th, CWT’s stock opened at $55.74, with a fifty-day moving average of $57.35 and a two-hundred day moving average of $59.81.
The stock’s performance over the past year shows a range between $48.46 and $66.12 per share. The company’s quick ratio of 0.73 and current ratio of 0.77 indicate its ability to cover short-term obligations using liquid assets.
Despite these positive figures, financial news outlet StockNews.com released a report on May 18th with a “sell” rating for CWT’s shares, causing investors to re-evaluate their positions in the company.
Meanwhile, one vice president recently sold one thousand shares of CWT stock at an average price of $56.79 per share, resulting in a total transaction value of $56,790.00 USD. As is required by law, this sale was disclosed via filing with the Securities and Exchange Commission (SEC), indicating that insiders currently own less than one percent of the company’s shares.
CWT reported earnings on March 2nd of this year, surpassing analyst expectations by earning $0.35 per share – thirteen cents higher than estimates had forecasted – for the quarter ended December 31st., 2022.The firm’s revenue amounted to approximately $201 million during this period; both figures reflect further stability in the company going forward.
California Water Service Group has grown into an incredibly valuable asset – its market capitalization now exceeds three billion dollars ($3.12B), providing dividends and investment opportunities alike for shareholders seeking stability within their portfolios amidst an ever-changing business landscape.
If individuals are seeking a reliable investment opportunity, California Water Service Group may be worth considering as it continues to expand, evolve and strengthen its position in the competitive utilities sector.
California Water Service Group Receives Impressive Analyst Endorsement and Announces Dividend Payment
May 26, 2023 – California Water Service Group (NYSE:CWT), a leading utilities provider in California, has recently received an impressive endorsement from stock analysts at Seaport Res Ptn. In a report issued on May 24th, Seaport Res Ptn analyst A. Storozynski lifted FY2023 EPS estimates for the company to $1.85 per share for the year, up from their prior estimate of $1.83. This latest upgrade is all set to contribute positively towards the company’s current full-year earnings consensus estimate which stands at $1.84 per share.
This development reflects positively on California Water Service Group as it demonstrates that it is being watched closely by industry experts who are recognizing its potential. The company’s unwavering focus on customer satisfaction and efficient service provision has helped establish it as one of the premier players in the utilities sector.
In addition to this latest announcement, shareholders will be pleased to know that California Water Service Group has recently disclosed a quarterly dividend payment of $0.26 per share on May 19th. The dividend was paid out to shareholders of record as on May 8th, representing an annualized dividend of $1.04 and a yield of 1.87%. It is noteworthy that the ex-dividend date for this payment was Friday, May 5th.
The combination of Seaport Res Ptn’s bullish rating upgrade and the company’s dividend payment should serve as an assurance to investors looking for a stable long-term investment opportunity in the utilities sector.
In conclusion, with these latest announcements and reports showcasing improved EPS estimates and a healthy dividend payout ratio of 77.61%, there may not be a better time than right now for investors to consider investing in California Water Service Group.
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