California Water Service Group (CWT) Downgraded by Hilliard Lyons to “Underperform”

Hilliard Lyons cut shares of California Water Service Group (NYSE:CWT) from a neutral rating to an underperform rating in a report released on Wednesday, MarketBeat reports.

Other analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of California Water Service Group from a sell rating to a hold rating in a research report on Tuesday, January 9th. Barclays upped their price objective on shares of California Water Service Group from $30.00 to $32.00 and gave the company an underweight rating in a research report on Friday, September 22nd. Three equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock has a consensus rating of Hold and an average target price of $38.33.

California Water Service Group (NYSE CWT) traded up $1.05 on Wednesday, hitting $43.80. 256,401 shares of the company were exchanged, compared to its average volume of 240,469. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.46 and a current ratio of 0.47. California Water Service Group has a 1-year low of $32.75 and a 1-year high of $46.15. The company has a market cap of $2,076.66, a PE ratio of 30.85, a P/E/G ratio of 5.08 and a beta of 0.74.

California Water Service Group (NYSE:CWT) last released its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.70 EPS for the quarter, beating the Zacks’ 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 business had revenue of $211.70 million during the quarter, compared to analysts’ expectations of $203.00 million. During the same quarter in the prior year, the company earned $0.48 EPS. The firm’s quarterly revenue was up 14.9% on a year-over-year basis. research analysts predict that California Water Service Group will post 1.33 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings 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 worth $183,466,000 after purchasing an additional 63,704 shares in the last quarter. Impax Asset Management LTD increased its holdings 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 worth $72,953,000 after purchasing an additional 73,467 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings 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 worth $62,011,000 after purchasing an additional 6,427 shares in the last quarter. State Street Corp increased its holdings 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 worth $46,820,000 after purchasing an additional 57,115 shares in the last quarter. Finally, Northern Trust Corp increased its holdings 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 worth $27,473,000 after purchasing an additional 12,513 shares in the last quarter. Hedge funds and other institutional investors own 69.54% of the company’s stock.

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About California Water Service Group

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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