California Water Service Group (NYSE:CWT – Get Free Report) released its earnings results on Thursday. The utilities provider reported $1.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $1.00, Briefing.com reports. The company had revenue of $270.75 million for the quarter, compared to the consensus estimate of $183.85 million. California Water Service Group had a net margin of 6.53% and a return on equity of 3.75%. California Water Service Group’s quarterly revenue was up 106.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.40) EPS.
California Water Service Group Stock Performance
NYSE:CWT traded down $0.12 on Friday, reaching $47.93. 401,414 shares of the company’s stock were exchanged, compared to its average volume of 366,920. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $58.30. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 54.21 and a beta of 0.49. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.69 and a quick ratio of 0.65. The stock has a fifty day simple moving average of $46.10 and a 200-day simple moving average of $48.32.
California Water Service Group Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Monday, May 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 3rd. This represents a $1.12 annualized dividend and a yield of 2.34%. California Water Service Group’s payout ratio is 125.84%.
Wall Street Analysts Forecast Growth
View Our Latest Analysis on CWT
About California Water Service Group
California Water Service Group, through its subsidiaries, provides water utility and other related services in California, Washington, New Mexico, Hawaii, and Texas. The company is involved in the production, purchase, storage, treatment, testing, distribution, and sale of water for domestic, industrial, public, and irrigation uses, as well as for fire protection services.
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