American States Water Company (NYSE:AWR) Receives Consensus Rating of “Hold” from Brokerages
Shares of American States Water Company (NYSE:AWR) have earned an average broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the company, Zacks Investment Research reports. Four equities research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus price objective of $42.50 for the company and are predicting that the company will post $0.57 earnings per share for the current quarter, according to Zacks. Zacks has also given American States Water an industry rank of 168 out of 265 based on the ratings given to its competitors.
A number of research firms recently issued reports on AWR. BidaskClub raised American States Water from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. US Capital Advisors reaffirmed a “hold” rating on shares of American States Water in a report on Monday, July 17th. Finally, Zacks Investment Research cut American States Water from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th.
In related news, CEO Robert J. Sprowls sold 13,304 shares of American States Water stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $47.00, for a total value of $625,288.00. Following the completion of the transaction, the chief executive officer now directly owns 108,937 shares of the company’s stock, valued at $5,120,039. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anne M. Holloway sold 5,450 shares of American States Water stock in a transaction dated Monday, September 4th. The shares were sold at an average price of $36.95, for a total value of $201,377.50. Following the completion of the transaction, the director now directly owns 48,963 shares of the company’s stock, valued at $1,809,182.85. The disclosure for this sale can be found here. Insiders sold 57,696 shares of company stock valued at $2,755,161 over the last ninety days. 1.43% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Riverhead Capital Management LLC boosted its position in American States Water by 85.4% in the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock worth $123,000 after buying an additional 1,196 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in American States Water during the second quarter worth about $127,000. Ameritas Investment Partners Inc. acquired a new position in American States Water during the first quarter worth about $140,000. IndexIQ Advisors LLC acquired a new position in American States Water during the second quarter worth about $166,000. Finally, Pinnacle Bank acquired a new position in American States Water during the first quarter worth about $177,000. 67.57% of the stock is owned by institutional investors and hedge funds.
Shares of American States Water (NYSE:AWR) opened at 51.45 on Friday. American States Water has a 12-month low of $37.47 and a 12-month high of $51.75. The company has a 50-day moving average of $48.58 and a 200 day moving average of $45.76. The firm has a market capitalization of $1.89 billion, a PE ratio of 27.77 and a beta of 0.47.
American States Water (NYSE:AWR) last issued its quarterly earnings data on Wednesday, August 2nd. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.17. American States Water had a return on equity of 13.70% and a net margin of 15.44%. The company had revenue of $113.20 million during the quarter, compared to analysts’ expectations of $119.23 million. During the same period last year, the business earned $0.45 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. On average, analysts predict that American States Water will post $1.70 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.98%. This is a boost from American States Water’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, August 11th. American States Water’s payout ratio is currently 52.43%.
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American States Water Company Profile
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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