American Water Works (NYSE:AWK) posted its earnings results on Wednesday. The utilities provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04, RTT News reports. The firm had revenue of $976.00 million during the quarter, compared to analysts’ expectations of $946.35 million. American Water Works had a return on equity of 10.32% and a net margin of 13.94%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.08 earnings per share. American Water Works updated its FY 2018 guidance to $3.27-3.32 EPS and its FY18 guidance to $3.27-3.32 EPS.
Shares of NYSE AWK opened at $88.33 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.28 and a quick ratio of 0.27. American Water Works has a twelve month low of $76.04 and a twelve month high of $92.79. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 3.52 and a beta of 0.11.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 4th. Shareholders of record on Monday, November 12th will be paid a $0.455 dividend. This represents a $1.82 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, November 8th. American Water Works’s dividend payout ratio is currently 60.07%.
In other news, SVP Loyd A. Warnock sold 10,520 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $87.86, for a total value of $924,287.20. Following the transaction, the senior vice president now owns 12,322 shares of the company’s stock, valued at $1,082,610.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Melanie M. Kennedy sold 1,114 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $88.78, for a total value of $98,900.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,634 shares of company stock valued at $1,918,888. 0.35% of the stock is owned by company insiders.
AWK has been the subject of several recent analyst reports. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Monday, July 23rd. ValuEngine upgraded American Water Works from a “hold” rating to a “buy” rating in a research note on Monday, September 17th. Finally, Evercore ISI initiated coverage on American Water Works in a research note on Monday, September 17th. They issued an “outperform” rating and a $96.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. American Water Works presently has an average rating of “Buy” and a consensus target price of $90.42.
American Water Works Company Profile
American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States and Canada. It offers water and wastewater services to approximately 1,600 communities in 16 states. The company operates approximately 72 surface water treatment plants; 527 groundwater treatment plants; 8 combined treatment plants; 127 wastewater treatment plants; 50,382 miles of transmission, distribution, and collection mains and pipes; 1,103 groundwater wells; 1,428 water and wastewater pumping stations; 1,313 treated water storage facilities; and 80 dams.
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