SJW Group (NYSE:SJW) Updates FY24 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $2.68-2.78 for the period, compared to the consensus earnings per share estimate of $2.76.

Analyst Ratings Changes

A number of research firms have commented on SJW. StockNews.com raised shares of SJW Group from a sell rating to a hold rating in a research report on Friday, April 26th. Wells Fargo & Company upped their target price on shares of SJW Group from $62.00 to $63.00 and gave the company an equal weight rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $66.33.

SJW Group Stock Down 1.3 %

Shares of SJW traded down $0.79 during mid-day trading on Friday, hitting $60.87. 171,942 shares of the company’s stock were exchanged, compared to its average volume of 185,178. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.99 and a beta of 0.61. SJW Group has a fifty-two week low of $51.17 and a fifty-two week high of $72.17. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.55 and a current ratio of 0.49. The stock’s 50-day moving average is $55.26 and its 200-day moving average is $56.78.

SJW Group (NYSE:SJW) last issued its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $149.38 million for the quarter, compared to analysts’ expectations of $140.60 million. SJW Group had a net margin of 12.48% and a return on equity of 7.10%. On average, sell-side analysts anticipate that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 5th will be given a dividend of $0.40 per share. The ex-dividend date is Monday, August 5th. This represents a $1.60 annualized dividend and a dividend yield of 2.63%. SJW Group’s dividend payout ratio is presently 60.15%.

Insider Activity at SJW Group

In related news, insider Craig J. Patla sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $55.62, for a total value of $77,868.00. Following the sale, the insider now owns 3,300 shares of the company’s stock, valued at $183,546. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.

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.