Connecticut Water Service Inc. (NASDAQ:CTWS) has received a consensus broker rating score of 3.00 (Hold) from the three analysts that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a hold recommendation.
Brokerages have set a 1 year consensus price target of $52.00 for the company and are predicting that the company will post $0.85 EPS for the current quarter, according to Zacks. Zacks has also given Connecticut Water Service an industry rank of 163 out of 265 based on the ratings given to related companies.
CTWS has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Connecticut Water Service from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Barclays PLC initiated coverage on shares of Connecticut Water Service in a report on Tuesday, September 6th. They set an “equal weight” rating and a $52.00 price objective for the company.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Connecticut Water Service by 10.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,292 shares of the company’s stock worth $149,000 after buying an additional 318 shares during the last quarter. Croft Leominster Inc. bought a new position in shares of Connecticut Water Service during the second quarter worth $206,000. Teton Advisors Inc. bought a new position in shares of Connecticut Water Service during the second quarter worth $225,000. Numeric Investors LLC bought a new position in shares of Connecticut Water Service during the second quarter worth $242,000. Finally, HighTower Advisors LLC bought a new position in shares of Connecticut Water Service during the second quarter worth $249,000. 44.51% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Connecticut Water Service (NASDAQ:CTWS) opened at 49.73 on Monday. The company has a 50-day moving average of $48.91 and a 200-day moving average of $48.98. Connecticut Water Service has a 12 month low of $34.15 and a 12 month high of $56.62. The firm has a market cap of $558.52 million, a P/E ratio of 23.02 and a beta of 0.24.
Connecticut Water Service (NASDAQ:CTWS) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.18. The firm earned $26.06 million during the quarter, compared to analysts’ expectations of $27.20 million. Connecticut Water Service had a net margin of 23.55% and a return on equity of 10.65%. Equities analysts forecast that Connecticut Water Service will post $2.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were paid a $0.2825 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Tuesday, August 30th. Connecticut Water Service’s payout ratio is currently 52.31%.
Connecticut Water Service Company Profile
Connecticut Water Service, Inc is a non-operating holding company. The Company’s income is derived from the earnings of its subsidiary companies, including The Connecticut Water Company (Connecticut Water), The Maine Water Company (Maine Water), New England Water Utility Services, Inc (NEWUS) and Chester Realty Company (Chester Realty).
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