Shares of Connecticut Water Service Inc. (NASDAQ:CTWS) have received an average broker rating score of 3.00 (Hold) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation.
Brokers have set a twelve-month consensus price target of $52.00 for the company and are forecasting that the company will post $0.85 earnings per share for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 185 out of 265 based on the ratings given to its competitors.
Several research analysts have weighed in on CTWS shares. Zacks Investment Research cut Connecticut Water Service from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Barclays PLC started coverage on Connecticut Water Service in a research report on Tuesday, September 6th. They set an “equal weight” rating and a $52.00 price objective on the stock.
Connecticut Water Service (NASDAQ:CTWS) traded down 0.85% on Monday, hitting $51.56. The company had a trading volume of 17,610 shares. Connecticut Water Service has a 12-month low of $34.15 and a 12-month high of $56.62. The firm has a market capitalization of $579.07 million, a PE ratio of 23.87 and a beta of 0.24. The firm has a 50-day moving average price of $48.85 and a 200-day moving average price of $48.72.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.18. Connecticut Water Service had a return on equity of 10.65% and a net margin of 23.55%. The business had revenue of $26.06 million for the quarter, compared to analysts’ expectations of $27.20 million. On average, equities research analysts anticipate that Connecticut Water Service will post $2.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a dividend of $0.2825 per share. This represents a $1.13 annualized dividend and a yield of 2.17%. The ex-dividend date was Tuesday, August 30th. Connecticut Water Service’s payout ratio is 52.31%.
Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Connecticut Water Service by 1.1% in the first quarter. Royal Bank of Canada now owns 21,555 shares of the company’s stock valued at $972,000 after buying an additional 236 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its stake in Connecticut Water Service by 10.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,292 shares of the company’s stock valued at $149,000 after buying an additional 318 shares during the period. Swiss National Bank raised its stake in Connecticut Water Service by 2.0% in the second quarter. Swiss National Bank now owns 20,300 shares of the company’s stock valued at $1,141,000 after buying an additional 400 shares during the period. Commonwealth Equity Services Inc raised its stake in Connecticut Water Service by 4.2% in the first quarter. Commonwealth Equity Services Inc now owns 10,936 shares of the company’s stock valued at $493,000 after buying an additional 439 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Connecticut Water Service by 2.7% in the second quarter. Alliancebernstein L.P. now owns 18,514 shares of the company’s stock valued at $1,040,000 after buying an additional 494 shares during the period. 44.51% of the stock is currently owned by institutional investors.
Connecticut Water Service Company Profile
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS) and Chester Realty Company (Chester Realty).
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