American Water Works (NYSE:AWK) Releases FY24 Earnings Guidance

American Water Works (NYSE:AWK) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $5.25-5.30 for the period, compared to the consensus EPS estimate of $5.24.

Analysts Set New Price Targets

Several equities research analysts have issued reports on AWK shares. Wells Fargo & Company downgraded shares of American Water Works from an equal weight rating to an underweight rating and boosted their price objective for the stock from $127.00 to $138.00 in a research note on Wednesday. UBS Group lifted their target price on American Water Works from $124.00 to $139.00 and gave the stock a neutral rating in a research report on Monday, May 13th. Finally, StockNews.com downgraded American Water Works from a hold rating to a sell rating in a report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $141.17.

American Water Works Stock Down 0.8 %

Shares of AWK traded down $1.21 during trading hours on Wednesday, hitting $142.46. 1,123,983 shares of the company were exchanged, compared to its average volume of 1,300,589. American Water Works has a 52 week low of $113.34 and a 52 week high of $148.20. The company has a market cap of $27.75 billion, a PE ratio of 28.81, a PEG ratio of 3.37 and a beta of 0.67. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.79 and a current ratio of 0.85. The firm’s 50 day moving average is $132.52 and its 200-day moving average is $126.17.

American Water Works (NYSE:AWK) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $962.30 million. American Water Works had a return on equity of 9.74% and a net margin of 22.27%. American Water Works’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. On average, equities research analysts forecast that American Water Works will post 5.24 EPS for the current fiscal year.

American Water Works Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Tuesday, August 13th will be issued a dividend of $0.765 per share. This represents a $3.06 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Tuesday, August 13th. American Water Works’s payout ratio is 62.07%.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.