Zacks: American States Water Company (AWR) Receives Consensus Rating of “Hold” from Brokerages

Shares of American States Water Company (NYSE:AWR) have received an average broker rating score of 3.00 (Hold) from the four brokers that provide coverage for the company, Zacks Investment Research reports. Four research analysts have rated the stock with a hold recommendation.

Brokers have set a twelve-month consensus price objective of $43.67 for the company and are expecting that the company will post $0.58 EPS for the current quarter, according to Zacks. Zacks has also given American States Water an industry rank of 211 out of 265 based on the ratings given to its competitors.

Several equities research analysts have commented on the company. BidaskClub raised American States Water from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. US Capital Advisors restated a “hold” rating on shares of American States Water in a research note on Monday, July 17th. Finally, Zacks Investment Research cut American States Water from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th.

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In other American States Water news, Director Anne M. Holloway sold 5,450 shares of the company’s stock in a transaction dated Monday, September 4th. The stock was sold at an average price of $36.95, for a total value of $201,377.50. Following the completion of the sale, the director now owns 48,963 shares in the company, valued at $1,809,182.85. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Robert J. Sprowls sold 9,586 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $51.01, for a total value of $488,981.86. Following the completion of the sale, the chief executive officer now owns 111,454 shares of the company’s stock, valued at approximately $5,685,268.54. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,605 shares of company stock valued at $1,567,120. Company insiders own 1.49% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of AWR. Teachers Advisors LLC boosted its stake in shares of American States Water by 2.7% in the fourth quarter. Teachers Advisors LLC now owns 60,650 shares of the utilities provider’s stock worth $2,763,000 after acquiring an additional 1,573 shares during the period. Great West Life Assurance Co. Can boosted its stake in shares of American States Water by 7.0% in the first quarter. Great West Life Assurance Co. Can now owns 51,320 shares of the utilities provider’s stock worth $2,273,000 after acquiring an additional 3,364 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of American States Water by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 954,997 shares of the utilities provider’s stock worth $42,306,000 after acquiring an additional 33,107 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of American States Water by 12.3% in the first quarter. BNP Paribas Arbitrage SA now owns 8,491 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 930 shares during the period. Finally, Comerica Bank boosted its stake in shares of American States Water by 4.0% in the first quarter. Comerica Bank now owns 40,803 shares of the utilities provider’s stock worth $1,863,000 after acquiring an additional 1,578 shares during the period. Institutional investors and hedge funds own 65.47% of the company’s stock.

American States Water (AWR) traded down 0.08% during trading on Friday, hitting $50.59. The company’s stock had a trading volume of 35,431 shares. The firm has a 50 day moving average of $49.77 and a 200 day moving average of $46.76. American States Water has a 12 month low of $37.47 and a 12 month high of $51.75. The firm has a market cap of $1.85 billion, a P/E ratio of 27.30 and a beta of 0.45.

American States Water (NYSE:AWR) last released its quarterly earnings results on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.17. American States Water had a return on equity of 13.70% and a net margin of 15.44%. The company had revenue of $113.20 million for the quarter, compared to analyst estimates of $119.23 million. During the same period in the previous year, the company posted $0.45 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Equities research analysts predict that American States Water will post $1.70 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a $0.255 dividend. This is a boost from American States Water’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, August 11th. This represents a $1.02 dividend on an annualized basis and a yield of 2.02%. American States Water’s dividend payout ratio is presently 55.14%.

About American States Water

American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).

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