SJW Group (NYSE:SJW) Releases FY 2024 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY 2024 earnings guidance on Friday. The company provided earnings per share (EPS) guidance of 2.680-2.780 for the period, compared to the consensus estimate of 2.760. The company issued revenue guidance of -. SJW Group also updated its FY24 guidance to $2.68-2.78 EPS.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SJW. 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 research note on Friday, February 23rd. Seaport Res Ptn upgraded SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. Finally, StockNews.com upgraded SJW Group from a sell rating to a hold rating in a report on Friday. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Hold and an average target price of $66.00.

SJW Group Price Performance

SJW opened at $53.50 on Monday. The stock has a 50-day moving average price of $55.82 and a 200-day moving average price of $60.54. SJW Group has a 12-month low of $51.37 and a 12-month high of $78.42. The company has a current ratio of 0.55, a quick ratio of 0.58 and a debt-to-equity ratio of 1.25. The stock has a market capitalization of $1.72 billion, a P/E ratio of 20.11, a PEG ratio of 2.59 and a beta of 0.58.

SJW Group (NYSE:SJW) last posted its quarterly earnings data 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). The firm had revenue of $171.34 million during the quarter, compared to analysts’ expectations of $161.23 million. SJW Group had a return on equity of 6.98% and a net margin of 12.48%. During the same quarter in the previous year, the company posted $1.09 earnings per share. Equities analysts predict that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Announces Dividend

The business also recently announced 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. This represents a $1.60 annualized dividend and a yield of 2.99%. The ex-dividend date of this dividend is Friday, May 3rd. SJW Group’s dividend payout ratio is presently 60.15%.

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.