Zacks: Analysts Expect Aqua America Inc (WTR) Will Announce Quarterly Sales of $231.57 Million

Brokerages expect that Aqua America Inc (NYSE:WTR) will report sales of $231.57 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Aqua America’s earnings, with the lowest sales estimate coming in at $221.00 million and the highest estimate coming in at $250.10 million. Aqua America reported sales of $215.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The company is expected to report its next quarterly earnings results on Tuesday, October 30th.

On average, analysts expect that Aqua America will report full-year sales of $850.42 million for the current fiscal year, with estimates ranging from $841.00 million to $869.00 million. For the next year, analysts anticipate that the company will post sales of $890.50 million per share, with estimates ranging from $883.00 million to $898.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Aqua America.

Aqua America (NYSE:WTR) last posted its earnings results on Wednesday, August 1st. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $211.90 million for the quarter, compared to analyst estimates of $211.73 million. Aqua America had a return on equity of 12.71% and a net margin of 29.97%. Aqua America’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period last year, the company earned $0.34 earnings per share.

A number of brokerages have issued reports on WTR. ValuEngine upgraded Aqua America from a “hold” rating to a “buy” rating in a research report on Wednesday, August 8th. Boenning Scattergood reiterated a “hold” rating on shares of Aqua America in a research report on Thursday, August 2nd. Evercore ISI began coverage on Aqua America in a research report on Monday, September 17th. They set an “in-line” rating and a $37.00 price target on the stock. Finally, Zacks Investment Research upgraded Aqua America from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $38.14.

Aqua America stock opened at $37.21 on Friday. The stock has a market cap of $6.62 billion, a P/E ratio of 27.16, a P/E/G ratio of 4.99 and a beta of 0.33. Aqua America has a 52 week low of $32.37 and a 52 week high of $39.55. The company has a current ratio of 0.75, a quick ratio of 0.68 and a debt-to-equity ratio of 1.09.

The firm also recently declared a quarterly dividend, which was paid on Saturday, September 1st. Shareholders of record on Friday, August 17th were given a dividend of $0.219 per share. The ex-dividend date of this dividend was Thursday, August 16th. This represents a $0.88 dividend on an annualized basis and a yield of 2.35%. This is an increase from Aqua America’s previous quarterly dividend of $0.20. Aqua America’s dividend payout ratio is currently 64.23%.

Hedge funds have recently modified their holdings of the business. Fenimore Asset Management Inc. purchased a new position in shares of Aqua America in the second quarter valued at approximately $24,199,000. Allianz Asset Management GmbH lifted its position in shares of Aqua America by 102.2% in the first quarter. Allianz Asset Management GmbH now owns 819,855 shares of the utilities provider’s stock valued at $27,924,000 after acquiring an additional 414,464 shares in the last quarter. BlackRock Inc. lifted its position in shares of Aqua America by 2.4% in the first quarter. BlackRock Inc. now owns 16,087,084 shares of the utilities provider’s stock valued at $547,925,000 after acquiring an additional 377,415 shares in the last quarter. Amundi Pioneer Asset Management Inc. lifted its position in shares of Aqua America by 62.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 772,540 shares of the utilities provider’s stock valued at $26,313,000 after acquiring an additional 297,682 shares in the last quarter. Finally, Rockland Trust Co. purchased a new position in shares of Aqua America in the second quarter valued at approximately $9,359,000. Institutional investors own 53.97% of the company’s stock.

About Aqua America

Aqua America, Inc, through its subsidiaries, operates regulated utilities that provide water or wastewater services in the United States. It offers water and wastewater services through operating and maintenance contracts with municipal authorities and other parties. The company also provides non-utility raw water supply services for firms in the natural gas drilling industry.

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