SJW Group (NYSE:SJW) Releases FY24 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY24 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of $2.68-2.78 for the period, compared to the consensus estimate of $2.76. SJW Group also updated its FY 2024 guidance to 2.680-2.780 EPS.

SJW Group Stock Down 2.4 %

Shares of NYSE:SJW opened at $53.48 on Friday. SJW Group has a 1 year low of $51.37 and a 1 year high of $78.42. The company has a market cap of $1.71 billion, a PE ratio of 20.11, a P/E/G ratio of 2.65 and a beta of 0.58. The company has a debt-to-equity ratio of 1.24, a current ratio of 0.58 and a quick ratio of 0.58. The stock’s 50-day moving average is $55.82 and its 200 day moving average is $60.55.

SJW Group (NYSE:SJW) last announced its quarterly earnings results on Wednesday, February 21st. The utilities provider reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). SJW Group had a net margin of 12.48% and a return on equity of 7.03%. The business had revenue of $171.34 million for the quarter, compared to analysts’ expectations of $161.23 million. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts anticipate that SJW Group will post 2.75 EPS for the current year.

SJW Group Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 6th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.99%. SJW Group’s dividend payout ratio is presently 60.15%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Seaport Res Ptn upgraded SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. Wells Fargo & Company upped their target price on SJW Group from $61.00 to $62.00 and gave the stock an equal weight rating in a report on Friday, February 23rd. Finally, StockNews.com raised SJW Group from a sell rating to a hold rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, SJW Group presently has an average rating of Hold and a consensus price target of $66.00.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.