American States Water Company (NYSE:AWR) Issues Earnings Results, Beats Expectations By $0.17 EPS
American States Water Company (NYSE:AWR) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.17, Briefing.com reports. The firm had revenue of $113.20 million during the quarter, compared to analyst estimates of $119.23 million. American States Water had a return on equity of 12.72% and a net margin of 14.11%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period last year, the company earned $0.45 earnings per share.
American States Water (NYSE:AWR) traded up 1.89% during trading on Friday, hitting $50.75. The stock had a trading volume of 124,392 shares. American States Water has a 52 week low of $37.47 and a 52 week high of $51.01. The company has a 50-day moving average of $48.33 and a 200 day moving average of $45.43. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 27.42 and a beta of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be given a dividend of $0.255 per share. This is a positive change from American States Water’s previous quarterly dividend of $0.24. This represents a $1.02 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, August 11th. American States Water’s payout ratio is presently 57.74%.
In other news, Director Anne M. Holloway sold 5,450 shares of the stock in a transaction dated Monday, September 4th. The stock was sold at an average price of $36.95, for a total value of $201,377.50. Following the completion of the sale, the director now owns 48,963 shares of the company’s stock, valued at $1,809,182.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Lloyd E. Ross sold 600 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $47.83, for a total value of $28,698.00. Following the completion of the sale, the director now directly owns 51,619 shares of the company’s stock, valued at approximately $2,468,936.77. The disclosure for this sale can be found here. In the last three months, insiders sold 40,564 shares of company stock valued at $1,881,391. Insiders own 1.43% of the company’s stock.
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A number of analysts recently commented on the company. BidaskClub upgraded American States Water from a “hold” rating to a “buy” rating in a research report on Thursday. US Capital Advisors reiterated a “hold” rating on shares of American States Water in a research report on Monday, July 17th. Finally, Zacks Investment Research lowered American States Water from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $43.67.
About American States Water
American States Water Company (AWR) is a holding company. The Company is the parent company of Golden State Water Company (GSWC) and American States Utility Services, Inc (ASUS), as well as ASUS’ subsidiaries, such as Fort Bliss Water Services Company (FBWS), Terrapin Utility Services, Inc (TUS), Old Dominion Utility Services, Inc (ODUS), Palmetto State Utility Services, Inc (PSUS) and Old North Utility Services, Inc (ONUS).
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