Brokerages expect California Water Service Group (NYSE:CWT) to announce $138.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for California Water Service Group’s earnings, with the highest sales estimate coming in at $141.30 million and the lowest estimate coming in at $136.00 million. California Water Service Group posted sales of $132.25 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The firm is expected to announce its next earnings report before the market opens on Thursday, April 25th.

According to Zacks, analysts expect that California Water Service Group will report full year sales of $715.77 million for the current financial year, with estimates ranging from $705.30 million to $730.00 million. For the next year, analysts expect that the company will post sales of $747.00 million, with estimates ranging from $733.00 million to $773.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover California Water Service Group.

California Water Service Group (NYSE:CWT) last posted its quarterly earnings data on Thursday, February 28th. The utilities provider reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The company had revenue of $167.42 million during the quarter, compared to analyst estimates of $163.45 million. California Water Service Group had a net margin of 8.71% and a return on equity of 8.58%. The company’s revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the business posted $0.31 earnings per share.

Several analysts have recently weighed in on CWT shares. Zacks Investment Research raised shares of California Water Service Group from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Thursday, January 3rd. ValuEngine raised shares of California Water Service Group from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Finally, Wells Fargo & Co raised their price objective on shares of California Water Service Group from $45.00 to $49.00 and gave the stock a “market perform” rating in a report on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $48.50.

Shares of NYSE CWT traded down $0.67 during mid-day trading on Wednesday, hitting $49.48. 205,887 shares of the stock were exchanged, compared to its average volume of 200,057. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of 36.38, a PEG ratio of 5.12 and a beta of 0.40. The company has a current ratio of 0.59, a quick ratio of 0.57 and a debt-to-equity ratio of 0.97. California Water Service Group has a twelve month low of $37.70 and a twelve month high of $55.05.

In other news, insider Elissa Y. Ouyang sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $54.03, for a total transaction of $54,030.00. Following the completion of the sale, the insider now owns 3,680 shares of the company’s stock, valued at $198,830.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Wells Fargo & Company MN increased its holdings in shares of California Water Service Group by 3.1% in the third quarter. Wells Fargo & Company MN now owns 121,413 shares of the utilities provider’s stock valued at $5,208,000 after purchasing an additional 3,595 shares in the last quarter. FMR LLC acquired a new stake in shares of California Water Service Group in the third quarter valued at approximately $110,000. Vanguard Group Inc. increased its holdings in shares of California Water Service Group by 2.3% in the third quarter. Vanguard Group Inc. now owns 5,337,436 shares of the utilities provider’s stock valued at $228,976,000 after purchasing an additional 118,398 shares in the last quarter. Mackay Shields LLC increased its holdings in shares of California Water Service Group by 50.5% in the fourth quarter. Mackay Shields LLC now owns 33,570 shares of the utilities provider’s stock valued at $1,600,000 after purchasing an additional 11,270 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of California Water Service Group by 3.2% in the third quarter. Legal & General Group Plc now owns 298,133 shares of the utilities provider’s stock valued at $12,745,000 after purchasing an additional 9,108 shares in the last quarter. 73.41% of the stock is owned by institutional investors and hedge funds.

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, and Hawaii. It 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.

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