California Water Service Group (CWT) is Initiated by Robert W. Baird to Neutral, Price Target at $33

California Water Service Group (CWT) was Initiated by Robert W. Baird to “Neutral” and the brokerage firm has set the Price Target at $33. Robert W. Baird advised their investors in a research report released on Oct 14, 2016.

Many Wall Street Analysts have commented on California Water Service Group. Shares were Reiterated by Barclays on Sep 6, 2016 to “Equal Weight” and Lowered the Price Target to $ 31 from a previous price target of $33 .

On the company’s financial health, California Water Service Group reported $0.24 EPS for the quarter, based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus estimate of $0.24. The company had revenue of $152.40 million for the quarter, compared to analysts expectations of $146.00 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.

California Water Service Group opened for trading at $31.86 and hit $31.98 on the upside on Tuesday, eventually ending the session at $31.96, with a gain of 0.66% or 0.21 points. The heightened volatility saw the trading volume jump to 2,67,062 shares. Company has a market cap of $1,533 M.

In a different news, on Jun 14, 2016, Timothy D Treloar (VP, Ops and Water Quality) sold 518 shares at $32.06 per share price. According to the SEC, on May 13, 2016, David B Healey (VP, Controller) sold 1,000 shares at $28.61 per share price. On May 6, 2016, Michael B Luu (VP, Customer Service & IT) sold 849 shares at $28.68 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.

California Water Service Group

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