American States Water (NYSE:AWR) Posts Quarterly Earnings Results, Hits Expectations

American States Water (NYSE:AWR) announced its earnings results on Tuesday. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.62, Briefing.com reports. The business had revenue of $135.30 million during the quarter, compared to analysts’ expectations of $119.00 million. American States Water had a net margin of 20.97% and a return on equity of 13.54%. The firm’s revenue for the quarter was down 16.2% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS.

American States Water Stock Performance

Shares of American States Water stock opened at $73.78 on Wednesday. The firm has a 50 day simple moving average of $70.85 and a 200 day simple moving average of $75.87. American States Water has a fifty-two week low of $66.03 and a fifty-two week high of $92.85. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.24 and a quick ratio of 1.13. The firm has a market cap of $2.75 billion, a P/E ratio of 21.89, a P/E/G ratio of 3.88 and a beta of 0.43.

American States Water Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.33%. American States Water’s payout ratio is 51.04%.

Insider Buying and Selling at American States Water

In other news, Director Thomas A. Eichelberger acquired 1,400 shares of the stock in a transaction that occurred on Wednesday, February 28th. The stock was purchased at an average cost of $71.21 per share, for a total transaction of $99,694.00. Following the completion of the transaction, the director now directly owns 5,850 shares in the company, valued at $416,578.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.82% of the company’s stock.

Analyst Ratings Changes

Separately, Wells Fargo & Company dropped their price target on American States Water from $79.00 to $77.00 and set an “underweight” rating for the company in a report on Friday, February 23rd.

American States Water Company Profile

American States Water Company, through its subsidiaries, provides water and electric services to residential, commercial, industrial, and other customers in the United States. It operates through three segments: Water, Electric, and Contracted Services. The company purchases, produces, distributes, and sells water, as well as distributes electricity.