What is Zacks Research's Forecast for CWT FY2024 Earnings?

California Water Service Group (NYSE:CWT - Free Report) - Analysts at Zacks Research dropped their FY2024 earnings per share estimates for shares of California Water Service Group in a research note issued to investors on Thursday, November 14th. Zacks Research analyst J. Saha now forecasts that the utilities provider will post earnings per share of $3.31 for the year, down from their prior estimate of $3.36. The consensus estimate for California Water Service Group's current full-year earnings is $3.29 per share. Zacks Research also issued estimates for California Water Service Group's Q3 2025 earnings at $1.13 EPS, Q4 2025 earnings at $0.63 EPS, FY2025 earnings at $2.36 EPS, Q1 2026 earnings at $0.18 EPS, Q2 2026 earnings at $0.40 EPS, Q3 2026 earnings at $1.15 EPS and FY2026 earnings at $2.48 EPS.

Separately, Wells Fargo & Company upgraded shares of California Water Service Group from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $50.00 to $57.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $53.67.

California Water Service Group Stock Down 0.1 %

Shares of CWT traded down $0.07 during midday trading on Monday, hitting $50.90. The company had a trading volume of 236,912 shares, compared to its average volume of 324,590. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 0.64. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 14.71 and a beta of 0.49. California Water Service Group has a 52 week low of $43.50 and a 52 week high of $56.25. The company's 50 day moving average price is $52.65 and its 200 day moving average price is $51.87.

California Water Service Group (NYSE:CWT - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The utilities provider reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.05 by ($0.02). California Water Service Group had a return on equity of 13.24% and a net margin of 19.56%. The business had revenue of $299.60 million for the quarter, compared to analysts' expectations of $289.55 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. California Water Service Group's quarterly revenue was up 17.5% compared to the same quarter last year.

Hedge Funds Weigh In On California Water Service Group

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC raised its stake in California Water Service Group by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,337,966 shares of the utilities provider's stock worth $72,559,000 after buying an additional 24,275 shares during the period. Duff & Phelps Investment Management Co. increased its stake in California Water Service Group by 52.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 63,554 shares of the utilities provider's stock valued at $3,446,000 after buying an additional 21,791 shares during the last quarter. Barclays PLC boosted its stake in shares of California Water Service Group by 135.8% during the 3rd quarter. Barclays PLC now owns 119,645 shares of the utilities provider's stock worth $6,486,000 after buying an additional 68,914 shares during the last quarter. XTX Topco Ltd raised its stake in shares of California Water Service Group by 58.3% during the 3rd quarter. XTX Topco Ltd now owns 9,475 shares of the utilities provider's stock worth $514,000 after purchasing an additional 3,489 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new position in shares of California Water Service Group in the third quarter valued at $2,152,000. Institutional investors and hedge funds own 82.78% of the company's stock.

Insider Buying and Selling at California Water Service Group

In other California Water Service Group news, Director Thomas M. Krummel sold 555 shares of the business's stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $55.09, for a total value of $30,574.95. Following the transaction, the director now directly owns 21,951 shares in the company, valued at $1,209,280.59. The trade was a 2.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.73% of the company's stock.

California Water Service Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Tuesday, November 12th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Tuesday, November 12th. California Water Service Group's payout ratio is 32.37%.

California Water Service Group Company Profile

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.