California Water Service Group (CWT) is expected to grow earnings and revenues in the years ahead

At the time of writing, California Water Service Group [CWT] stock is trading at $65.12, up 1.77%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The CWT shares have gain 3.14% over the last week, with a monthly amount glided 15.38%, and seem to be holding up well over a long-time horizon.

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On 22, November 2022, Washington Water Service Completes Acquisition of Driftwood Valley Water. In a post published today on Yahoo Finance, Washington Water Service (Washington Water), a subsidiary of California Water Service Group (Group), announced today that it has completed the acquisition of Driftwood Valley Association’s water system assets. Washington Water will now provide water utility service to Driftwood Valley Homeowner Association’s 62 customers in Yelm, Wash.

From an analyst’s perspective:

California Water Service Group [NYSE: CWT] stock has seen the most recent analyst activity on January 25, 2022, when Seaport Research Partners upgraded its rating to a Neutral but kept the price target unchanged to $78 for it. Previously, Seaport Global Securities downgraded its rating to Sell on April 16, 2021. On March 04, 2021, downgrade downgraded it’s rating to Underweight and revised its price target to $53 on the stock. Janney downgraded its rating to a Neutral. Boenning & Scattergood downgraded its rating to a Neutral. In a note dated May 01, 2020, Janney upgraded an Buy rating on this stock.

For the past year, the stock price of California Water Service Group fluctuated between $48.46 and $72.08. Currently, Wall Street analysts expect the stock to reach $62.67 within the next 12 months. California Water Service Group [NYSE: CWT] shares were valued at $65.12 at the most recent close of the market. An investor can expect a potential drop of -3.76% based on the average CWT price forecast.

Analyzing the CWT fundamentals

According to California Water Service Group [NYSE:CWT], the company’s sales were 266.31 billion in the recent quarter, which represents an 3.70% jump. Gross Margin for this corporation currently stands at +36.51% with Operating Margin at +16.38%, Pretax Margin comes in at +13.28%, and Net Margin reading is +12.79%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 64.38 points at the first support level, and at 63.63 for the second support level. However, for the 1st resistance point, the stock is sitting at 65.54, and for the 2nd resistance point, it is at 65.95.

California Water Service Group [CWT] reported earnings per share of $1.03 for its fiscal quarter that ended on 9/29/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.1/share, meaning a difference of -$0.07 and a surprise factor of -6.40%. By comparison, the stated earnings for the previous quarter ended on 6/29/2022 were $0.36 per share as compared to estimates of $0.57 per share, a difference of -$0.21 representing a surprise of -36.80%.

Ratios To Look Out For

It is important to note that California Water Service Group [NYSE:CWT] has a current ratio of 1.10. Further, the Quick Ratio stands at 1.13, while the Cash Ratio is 0.31. Considering the valuation of this stock, the price to sales ratio is 4.69, the price to book ratio is 3.28.

Transactions by insiders

Insider trading, which has resulted in 0 insider purchases of 0 shares and 30 insider sales of 3,237 shares in the past three months, is now the topic of our analysis. Recent insider trading involved Healey David B, VP, Controller, that happened on Nov 07 when 200.0 shares were sold. VP, Controller, Healey David B completed a deal on Nov 02 to sell 300.0 shares. Meanwhile, Corporate Secretary Mortensen Michelle R sold 615.0 shares on Sep 22.