Trade Report: Today, Hilliard Lyons Downgrade California Water Service Group Holding (CWT) to Neutral

Today, Hilliard Lyons Downgrade California Water  Service Group Holding (CWT) to Neutral

California Water Service Group Holding (NYSE:CWT) was downgraded by analysts at Hilliard Lyons from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, The Fly reports.

Several other brokerages also recently commented on CWT. Zacks Investment Research upgraded shares of California Water Service Group Holding from a “hold” rating to a “buy” rating and set a $37.00 target price on the stock in a report on Tuesday, September 27th. Barclays PLC dropped their target price on shares of California Water Service Group Holding from $33.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 6th. Finally, Robert W. Baird began coverage on shares of California Water Service Group Holding in a report on Friday, October 14th. They set a “neutral” rating and a $33.00 target price on the stock. Two analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. California Water Service Group Holding currently has a consensus rating of “Hold” and a consensus target price of $33.00.

Shares of California Water Service Group Holding (NYSE:CWT) opened at 34.20 on Wednesday. The company’s 50 day moving average is $32.26 and its 200 day moving average is $31.77. California Water Service Group Holding has a 12-month low of $21.87 and a 12-month high of $36.85. The company has a market capitalization of $1.64 billion, a P/E ratio of 38.95 and a beta of 0.59.

California Water Service Group Holding (NYSE:CWT) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.57 by $0.09. California Water Service Group Holding had a return on equity of 6.56% and a net margin of 7.05%. The firm had revenue of $184.27 million for the quarter, compared to the consensus estimate of $185.80 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up .4% compared to the same quarter last year. Analysts expect that California Water Service Group Holding will post $0.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 18th. Shareholders of record on Monday, November 7th were issued a dividend of $0.1725 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $0.69 annualized dividend and a yield of 2.02%. California Water Service Group Holding’s dividend payout ratio (DPR) is currently 78.41%.

A number of hedge funds have recently made changes to their positions in the company. State Board of Administration of Florida Retirement System increased its stake in California Water Service Group Holding by 10.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 39,158 shares of the company’s stock worth $1,368,000 after buying an additional 3,714 shares during the period. M&T Bank Corp acquired a new stake in California Water Service Group Holding during the second quarter worth about $227,000. GHP Investment Advisors Inc. increased its stake in California Water Service Group Holding by 3.2% in the second quarter. GHP Investment Advisors Inc. now owns 69,489 shares of the company’s stock worth $2,427,000 after buying an additional 2,181 shares during the period. California Public Employees Retirement System increased its stake in California Water Service Group Holding by 3.6% in the second quarter. California Public Employees Retirement System now owns 149,979 shares of the company’s stock worth $5,239,000 after buying an additional 5,200 shares during the period. Finally, Emerald Acquisition Ltd. acquired a new stake in California Water Service Group Holding during the second quarter worth about $2,802,000. Hedge funds and other institutional investors own 71.06% of the company’s stock.

California Water Service Group Holding Company Profile

California Water Service Group is a holding company that provides water utility and other related services in California, Washington, New Mexico and Hawaii through its subsidiaries. It operates through supply and distribution of water, and providing water-related utility services segment. Its business comprises the production, purchase, storage, treatment, testing, distribution and sale of water for domestic, industrial, public and irrigation uses, and for fire protection.

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