Hilliard Lyons Lowers California Water Service Group (CWT) to Underperform

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

Several other research analysts also recently commented on CWT. Barclays raised their price objective on California Water Service Group from $30.00 to $32.00 and gave the stock an underweight rating in a report on Friday, September 22nd. Zacks Investment Research upgraded California Water Service Group from a hold rating to a buy rating and set a $48.00 price objective on the stock in a report on Friday, October 27th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of Hold and an average target price of $38.33.

California Water Service Group (CWT) traded up $1.05 on Wednesday, reaching $43.80. The company’s stock had a trading volume of 256,401 shares, compared to its average volume of 187,355. The stock has a market cap of $2,052.65, a P/E ratio of 30.85, a P/E/G ratio of 5.02 and a beta of 0.74. California Water Service Group has a one year low of $32.75 and a one year high of $46.15. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.46.

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, topping the consensus estimate of $0.68 by $0.02. The company had revenue of $211.70 million for the quarter, compared to the consensus estimate of $203.00 million. California Water Service Group had a return on equity of 10.31% and a net margin of 10.46%. California Water Service Group’s quarterly revenue was up 14.9% on a year-over-year basis. During the same period last year, the business posted $0.48 EPS. equities analysts anticipate that California Water Service Group will post 1.33 EPS for the current year.

Several large investors have recently made changes to their positions in CWT. Nuance Investments LLC increased its holdings in shares of California Water Service Group by 106.1% in the 3rd quarter. Nuance Investments LLC now owns 661,848 shares of the utilities provider’s stock valued at $25,250,000 after acquiring an additional 340,789 shares during the period. Impax Asset Management LTD increased its holdings in shares of California Water Service Group by 4.0% in the 3rd quarter. Impax Asset Management LTD now owns 1,912,267 shares of the utilities provider’s stock valued at $72,953,000 after acquiring an additional 73,467 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of California Water Service Group by 27.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 330,104 shares of the utilities provider’s stock valued at $12,147,000 after acquiring an additional 71,424 shares during the period. First Trust Advisors LP increased its holdings in shares of California Water Service Group by 43.3% in the 3rd quarter. First Trust Advisors LP now owns 211,895 shares of the utilities provider’s stock valued at $8,084,000 after acquiring an additional 64,015 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of California Water Service Group by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,985,488 shares of the utilities provider’s stock valued at $183,466,000 after acquiring an additional 63,704 shares during the period. Institutional investors and hedge funds 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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