California Water Service Group (CWT) reported quarterly earnings results on Thursday, Apr-28-2016. The company reported $-0.02 earnings per share for the quarter, missing the analyst consensus estimate by $-0.05. Analysts had a consensus of $0.03. The company posted revenue of $121.80 million in the period, compared to analysts expectations of $123.00 million. The company’s revenue was down -.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on California Water Service Group. Barclays Initiated California Water Service Group on Apr 4, 2016 to “Equal Weight”, Price Target of the shares are set at $29.Gabelli & Co Downgraded California Water Service Group on Mar 7, 2016 to ” Hold”, Price Target of the shares are set at $31.Shares were Downgraded by Robert W. Baird on Feb 26, 2016 to ” Neutral” and Lowered the Price Target to $ 24 from a previous price target of $26 .
California Water Service Group opened for trading at $27.93 and hit $28.23 on the upside on Wednesday, eventually ending the session at $28.06, with a gain of 0.47% or 0.13 points. The heightened volatility saw the trading volume jump to 3,58,392 shares. Company has a market cap of $1,343 M.
In a different news, on Mar 15, 2016, Lynne P Mcghee (VP, General Counsel) sold 6,000 shares at $26.04 per share price. According to the SEC, on Jan 12, 2016, George A Vera (director) purchased 4 shares at $23.59 per share price. On Aug 18, 2015, Ronald D Webb (VP, Human Resources) purchased 1,000 shares at $22.28 per share price, according to the Form-4 filing with the securities and exchange commission.
California Water Service Group is a holding company. The Company through its wholly owned subsidiaries provides water utility and other related services in California Washington New Mexico and Hawaii. It operates through six operating subsidiaries: California Water Service Company (Cal Water) New Mexico Water Service Company (New Mexico Water) Washington Water Service Company (Washington Water) Hawaii Water Service Company Inc. (Hawaii Water) and CWS Utility Services and HWS Utility Services LLC (collectively Utility Services). Utility Services provides non-regulated services to private companies and municipalities. Its business consists of the production purchase storage treatment testing distribution and sale of water for domestic industrial public and irrigation uses and for fire protection. Its non-regulated services include full water system operation billing and meter reading services.