Equities analysts expect American Water (NYSE:AWK) to announce sales of $908.05 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for American Water’s earnings, with the highest sales estimate coming in at $916.10 million and the lowest estimate coming in at $900.00 million. American Water reported sales of $844.00 million during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The company is expected to issue its next earnings results on Wednesday, August 1st.
According to Zacks, analysts expect that American Water will report full-year sales of $3.51 billion for the current financial year, with estimates ranging from $3.37 billion to $3.63 billion. For the next financial year, analysts anticipate that the business will post sales of $3.64 billion per share, with estimates ranging from $3.55 billion to $3.69 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow American Water.
American Water (NYSE:AWK) last issued its quarterly earnings results on Wednesday, May 2nd. The utilities provider reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.04. American Water had a return on equity of 10.20% and a net margin of 13.06%. The company had revenue of $761.00 million during the quarter, compared to analyst estimates of $726.74 million. During the same period in the previous year, the company earned $0.52 earnings per share. The company’s quarterly revenue was up .7% compared to the same quarter last year.
A number of research firms have recently issued reports on AWK. ValuEngine cut American Water from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. Argus restated a “buy” rating and set a $105.00 price objective on shares of American Water in a research report on Tuesday, May 8th. Janney Montgomery Scott upgraded American Water from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $87.00 to $92.00 in a research report on Monday, April 16th. They noted that the move was a valuation call. Guggenheim restated a “hold” rating and set a $82.00 price objective on shares of American Water in a research report on Friday, February 23rd. Finally, Bank of America set a $84.00 price objective on American Water and gave the company a “hold” rating in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $89.52.
Shares of American Water opened at $80.53 on Tuesday, Marketbeat Ratings reports. American Water has a 12 month low of $75.50 and a 12 month high of $92.37. The company has a market cap of $14.32 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 3.18 and a beta of 0.15. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.29 and a quick ratio of 0.27.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Friday, May 11th will be given a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.26%. This is a boost from American Water’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Thursday, May 10th. American Water’s dividend payout ratio is 60.07%.
In other American Water news, EVP Michael A. Sgro sold 16,026 shares of the company’s stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $80.54, for a total value of $1,290,734.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.35% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Synovus Financial Corp acquired a new position in American Water in the first quarter worth $114,000. Signaturefd LLC acquired a new position in American Water in the first quarter worth $121,000. Resources Investment Advisors Inc. acquired a new position in American Water in the fourth quarter worth $152,000. McKinley Carter Wealth Services Inc. acquired a new position in American Water in the first quarter worth $148,000. Finally, Smithfield Trust Co. boosted its stake in American Water by 268.7% in the first quarter. Smithfield Trust Co. now owns 1,825 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 1,330 shares in the last quarter. 84.20% of the stock is currently owned by institutional investors.
About American Water
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.
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