Zacks: American States Water Company (AWR) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of American States Water Company (NYSE:AWR) have been assigned an average broker rating score of 3.00 (Hold) from the four analysts that provide coverage for the stock, Zacks Investment Research reports. Four investment analysts have rated the stock with a hold rating.
Brokers have set a 12 month consensus price target of $47.33 for the company and are predicting that the company will post $0.35 earnings per share for the current quarter, according to Zacks. Zacks has also assigned American States Water an industry rank of 126 out of 265 based on the ratings given to its competitors.
Several brokerages have issued reports on AWR. BidaskClub upgraded American States Water from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. Wells Fargo & Company increased their price target on American States Water from $46.00 to $48.00 and gave the stock a “market perform” rating in a report on Tuesday, October 3rd. Finally, Zacks Investment Research upgraded American States Water from a “hold” rating to a “strong-buy” rating and set a $64.00 price target on the stock in a report on Monday, October 23rd.
American States Water (NYSE:AWR) opened at $55.85 on Friday. The stock has a market capitalization of $2,048.52, a P/E ratio of 30.52, a price-to-earnings-growth ratio of 6.51 and a beta of 0.46. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 0.61. American States Water has a fifty-two week low of $41.14 and a fifty-two week high of $56.66.
American States Water (NYSE:AWR) last announced its quarterly earnings results on Monday, November 6th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.01). The firm had revenue of $124.40 million during the quarter, compared to the consensus estimate of $145.78 million. American States Water had a return on equity of 13.34% and a net margin of 15.28%. The firm’s revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. equities analysts expect that American States Water will post 1.72 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Wednesday, November 15th will be issued a $0.255 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 1.83%. American States Water’s dividend payout ratio is presently 55.74%.
In other news, Director Anne M. Holloway sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $55.00, for a total value of $55,000.00. Following the transaction, the director now owns 38,399 shares in the company, valued at $2,111,945. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Holloway sold 5,450 shares of the firm’s stock in a transaction that occurred on 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 owns 48,963 shares in the company, valued at approximately $1,809,182.85. The disclosure for this sale can be found here. Insiders sold 11,800 shares of company stock worth $527,340 in the last 90 days. Corporate insiders own 1.49% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Riverhead Capital Management LLC increased its position in shares of American States Water by 85.4% during the second quarter. Riverhead Capital Management LLC now owns 2,596 shares of the utilities provider’s stock valued at $123,000 after acquiring an additional 1,196 shares during the last quarter. Bruderman Asset Management LLC purchased a new stake in shares of American States Water during the second quarter valued at approximately $127,000. IndexIQ Advisors LLC purchased a new stake in shares of American States Water during the second quarter valued at approximately $166,000. Cetera Advisor Networks LLC purchased a new stake in shares of American States Water during the third quarter valued at approximately $201,000. Finally, Meeder Asset Management Inc. increased its position in shares of American States Water by 328.5% during the third quarter. Meeder Asset Management Inc. now owns 4,208 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 3,226 shares during the last quarter. 63.63% of the stock is owned by institutional investors.
About American States Water
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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