SJW Group (NYSE:SJW) Releases FY24 Earnings Guidance

SJW Group (NYSE:SJW) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $2.68-2.78 for the period, compared to the consensus estimate of $2.76. SJW Group also updated its FY 2024 guidance to 2.680-2.780 EPS.

SJW Group Stock Performance

NYSE:SJW opened at $53.48 on Friday. The firm has a 50 day simple moving average of $55.82 and a 200-day simple moving average of $60.55. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market cap of $1.71 billion, a PE ratio of 20.11, a P/E/G ratio of 2.65 and a beta of 0.58. SJW Group has a 1-year low of $51.37 and a 1-year high of $78.42.

SJW Group (NYSE:SJW) last posted its quarterly earnings data on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). The firm had revenue of $171.34 million during the quarter, compared to analyst estimates of $161.23 million. SJW Group had a net margin of 12.48% and a return on equity of 7.03%. During the same period in the prior year, the firm earned $1.09 EPS. On average, equities analysts expect that SJW Group will post 2.75 EPS for the current year.

SJW Group Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, May 3rd. SJW Group’s dividend payout ratio (DPR) is 60.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of SJW Group from a neutral rating to a buy rating in a research note on Monday, February 26th. Wells Fargo & Company boosted their price objective on shares of SJW Group from $61.00 to $62.00 and gave the stock an equal weight rating in a research note on Friday, February 23rd. Finally, StockNews.com upgraded shares of SJW Group from a sell rating to a hold rating in a research note on Friday. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $66.00.

About SJW Group

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.