Wall Street brokerages expect Connecticut Water Service, Inc. (NASDAQ:CTWS) to announce earnings per share (EPS) of $0.68 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Connecticut Water Service’s earnings. Connecticut Water Service reported earnings of $0.89 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 23.6%. The business is expected to report its next earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Connecticut Water Service will report full year earnings of $2.19 per share for the current fiscal year, with EPS estimates ranging from $2.17 to $2.20. For the next financial year, analysts forecast that the firm will post earnings of $2.29 per share, with EPS estimates ranging from $2.22 to $2.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Connecticut Water Service.
Connecticut Water Service (NASDAQ:CTWS) last posted its quarterly earnings data on Monday, May 8th. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.01. Connecticut Water Service had a return on equity of 10.13% and a net margin of 23.22%. The business had revenue of $24.21 million for the quarter.
Separately, Zacks Investment Research raised Connecticut Water Service from a “sell” rating to a “hold” rating in a research report on Friday, April 7th.
Large investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its position in shares of Connecticut Water Service by 137.5% in the first quarter. Bank of Montreal Can now owns 1,983 shares of the utilities provider’s stock worth $105,000 after buying an additional 1,148 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new position in Connecticut Water Service during the fourth quarter worth $204,000. Ameriprise Financial Inc. bought a new position in Connecticut Water Service during the first quarter worth $244,000. Sit Investment Associates Inc. increased its position in Connecticut Water Service by 381.8% in the first quarter. Sit Investment Associates Inc. now owns 5,300 shares of the utilities provider’s stock worth $282,000 after buying an additional 4,200 shares during the period. Finally, Comerica Bank increased its position in Connecticut Water Service by 6.3% in the fourth quarter. Comerica Bank now owns 6,383 shares of the utilities provider’s stock worth $343,000 after buying an additional 376 shares during the period. Institutional investors and hedge funds own 45.77% of the company’s stock.
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Shares of Connecticut Water Service (NASDAQ CTWS) opened at 57.16 on Friday. The firm’s 50-day moving average price is $57.30 and its 200 day moving average price is $54.76. Connecticut Water Service has a 12-month low of $45.13 and a 12-month high of $62.15. The stock has a market capitalization of $661.00 million, a P/E ratio of 26.50 and a beta of 0.09.
Connecticut Water Service Company Profile
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS),The Avon Water Company (AWC) and Chester Realty Company (Chester Realty).
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