$835.00 Million in Sales Expected for American Water Works (AWK) This Quarter
Analysts expect that American Water Works (NYSE:AWK) will post $835.00 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for American Water Works’ earnings, with the highest sales estimate coming in at $840.00 million and the lowest estimate coming in at $828.50 million. American Water Works posted sales of $802.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 4.1%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 20th.
According to Zacks, analysts expect that American Water Works will report full year sales of $835.00 million for the current year, with estimates ranging from $3.37 billion to $3.54 billion. For the next financial year, analysts forecast that the business will report sales of $3.60 billion per share, with estimates ranging from $3.49 billion to $3.74 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover American Water Works.
American Water Works (NYSE:AWK) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.08. The firm had revenue of $936.00 million during the quarter, compared to analysts’ expectations of $992.58 million. American Water Works had a net margin of 15.82% and a return on equity of 9.69%. The business’s revenue was up .6% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share.
A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of American Water Works from $82.00 to $87.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Janney Montgomery Scott cut shares of American Water Works from a “buy” rating to a “neutral” rating in a report on Friday, November 3rd. They noted that the move was a valuation call. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a report on Thursday, November 2nd. Bank of America Corporation assumed coverage on shares of American Water Works in a report on Tuesday, October 24th. They set a “buy” rating and a $95.00 price objective for the company. Finally, Zacks Investment Research cut shares of American Water Works from a “hold” rating to a “sell” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $85.63.
In other American Water Works news, insider Deborah A. Degillio sold 822 shares of American Water Works stock in a transaction dated Wednesday, November 8th. The shares were sold at an average price of $89.75, for a total value of $73,774.50. Following the sale, the insider now owns 3,659 shares of the company’s stock, valued at $328,395.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Walter Lynch sold 15,169 shares of American Water Works stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $82.00, for a total transaction of $1,243,858.00. Following the completion of the sale, the chief operating officer now directly owns 111,171 shares in the company, valued at approximately $9,116,022. The disclosure for this sale can be found here. Insiders have sold 25,167 shares of company stock worth $2,116,734 over the last three months. 0.34% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in AWK. Janus Henderson Group PLC raised its position in American Water Works by 8,104.3% in the second quarter. Janus Henderson Group PLC now owns 1,712,232 shares of the utilities provider’s stock worth $133,469,000 after acquiring an additional 1,691,362 shares during the period. Harbour Capital Advisors LLC raised its position in American Water Works by 7,096.4% in the second quarter. Harbour Capital Advisors LLC now owns 655,949 shares of the utilities provider’s stock worth $8,415,000 after acquiring an additional 646,834 shares during the period. Vanguard Group Inc. raised its position in American Water Works by 2.6% in the second quarter. Vanguard Group Inc. now owns 18,185,767 shares of the utilities provider’s stock worth $1,417,580,000 after acquiring an additional 465,748 shares during the period. Ardevora Asset Management LLP bought a new stake in American Water Works in the third quarter worth about $33,574,000. Finally, JPMorgan Chase & Co. raised its position in American Water Works by 56.8% in the third quarter. JPMorgan Chase & Co. now owns 853,175 shares of the utilities provider’s stock worth $69,200,000 after acquiring an additional 309,177 shares during the period. 79.75% of the stock is currently owned by institutional investors and hedge funds.
Shares of American Water Works (NYSE AWK) traded up $0.78 during midday trading on Tuesday, hitting $89.52. 682,400 shares of the stock were exchanged, compared to its average volume of 851,952. The firm has a market capitalization of $15,829.03, a PE ratio of 30.60, a P/E/G ratio of 3.89 and a beta of 0.25. American Water Works has a 52-week low of $69.79 and a 52-week high of $90.49. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.49 and a quick ratio of 0.47.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.415 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, November 9th. American Water Works’s payout ratio is currently 56.27%.
About American Water Works
American Water Works Company, Inc is a holding company for regulated and market-based subsidiaries throughout the United States and Ontario, Canada. The Company’s Regulated Businesses segment provides water and wastewater services as public utilities in 16 states in the United States as of December 31, 2016.
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