American States Water (NYSE:AWR) Releases Quarterly Earnings Results, Misses Estimates By $0.03 EPS

American States Water (NYSE:AWR) announced its quarterly earnings results on Wednesday. The utilities provider reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03), FiscalAI reports. The business had revenue of $192.53 million during the quarter, compared to analysts’ expectations of $195.98 million. American States Water had a net margin of 20.39% and a return on equity of 13.19%. American States Water’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.06 EPS.

American States Water Stock Up 0.0%

AWR stock opened at $89.98 on Monday. The stock has a market capitalization of $3.57 billion, a P/E ratio of 24.65, a P/E/G ratio of 3.40 and a beta of 0.54. The firm has a 50-day simple moving average of $85.09 and a 200-day simple moving average of $80.40. The company has a quick ratio of 0.81, a current ratio of 0.88 and a debt-to-equity ratio of 0.73. American States Water has a 52 week low of $69.50 and a 52 week high of $91.93.

American States Water Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 2nd. Stockholders of record on Monday, November 16th will be paid a dividend of $0.5455 per share. The ex-dividend date of this dividend is Monday, November 16th. This represents a $2.18 dividend on an annualized basis and a dividend yield of 2.4%. American States Water’s payout ratio is currently 59.73%.

Insider Transactions at American States Water

In other American States Water news, Director Anne Holloway sold 900 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $88.86, for a total transaction of $79,974.00. Following the completion of the sale, the director directly owned 38,518 shares in the company, valued at approximately $3,422,709.48. The trade was a 2.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on AWR shares. Freedom Broker upgraded American States Water from a “hold” rating to a “buy” rating and increased their price target for the stock from $89.00 to $99.00 in a research report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of American States Water in a research note on Wednesday, October 28th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.00.

American States Water News Roundup

Here are the key news stories impacting American States Water this week:

• Positive Sentiment: Freedom Broker raised its rating on AWR from “hold” to “buy” and increased its price target to $99 from $89, implying about 10% upside from the cited share price. Tickerreport article
• Positive Sentiment: Third-quarter revenue rose 5.4% year over year, and the earnings coverage highlighted rate increases, investment in the business and dividend growth as notable factors. Zacks article
• Negative Sentiment: Q3 EPS of $1.06 missed the $1.09 consensus estimate, while revenue of $192.54 million was below analyst expectations of $195.98 million. Higher costs offset revenue growth, weighing on the earnings report. Zacks article

About American States Water

American States Water Company is a holding company whose subsidiaries provide water, electric and wastewater services. Its regulated utility subsidiary, Golden State Water Company, delivers water to customers in communities across California and provides electric service in the Big Bear area through Bear Valley Electric Service.

Through American States Utility Services, the company also operates and maintains water and wastewater systems at U.S. military installations under long-term contracts.