American Water Works (NYSE:AWK) announced its earnings results on Wednesday. The utilities provider reported $0.94 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.94, Briefing.com reports. American Water Works had a return on equity of 10.58% and a net margin of 16.53%. The firm had revenue of $882.00 million for the quarter, compared to the consensus estimate of $907.56 million. During the same quarter in the previous year, the business earned $0.83 EPS. The company’s revenue was up 3.4% compared to the same quarter last year. American Water Works updated its FY19 guidance to $3.54-3.64 EPS.
American Water Works stock traded up $0.27 during trading on Friday, hitting $117.29. The stock had a trading volume of 1,155,910 shares, compared to its average volume of 829,864. American Water Works has a 1 year low of $85.88 and a 1 year high of $119.30. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.30 and a current ratio of 0.32. The company’s 50 day moving average price is $116.57. The firm has a market cap of $21.17 billion, a PE ratio of 35.54, a price-to-earnings-growth ratio of 3.95 and a beta of 0.17.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 4th. Investors of record on Friday, August 9th will be paid a $0.50 dividend. The ex-dividend date is Thursday, August 8th. This represents a $2.00 annualized dividend and a yield of 1.71%. American Water Works’s payout ratio is 60.61%.
A number of equities analysts have recently weighed in on AWK shares. Bank of America downgraded American Water Works from a “neutral” rating to an “underperform” rating and set a $116.00 target price on the stock. in a research note on Monday, July 15th. They noted that the move was a valuation call. Wells Fargo & Co restated a “hold” rating on shares of American Water Works in a research note on Monday, June 10th. Zacks Investment Research upgraded American Water Works from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a research note on Thursday, May 16th. Boenning Scattergood restated a “hold” rating on shares of American Water Works in a research note on Thursday, May 2nd. Finally, Janney Montgomery Scott restated a “buy” rating and issued a $121.00 target price (up previously from $102.00) on shares of American Water Works in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $111.83.
In related news, SVP Loyd A. Warnock sold 9,502 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $111.04, for a total value of $1,055,102.08. Following the transaction, the senior vice president now owns 18,314 shares in the company, valued at $2,033,586.56. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael A. Sgro sold 6,680 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $110.93, for a total value of $741,012.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 66,556 shares of company stock worth $7,477,635. 0.36% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Barrett Asset Management LLC purchased a new stake in shares of American Water Works during the first quarter worth $25,000. Next Capital Management LLC lifted its position in shares of American Water Works by 145.8% during the second quarter. Next Capital Management LLC now owns 236 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 140 shares in the last quarter. Citizens Financial Group Inc RI purchased a new stake in shares of American Water Works during the first quarter worth $30,000. Sandy Spring Bank purchased a new stake in shares of American Water Works during the first quarter worth $37,000. Finally, Farmers & Merchants Trust Co of Chambersburg PA purchased a new stake in shares of American Water Works during the second quarter worth $38,000. Institutional investors and hedge funds own 84.38% of the company’s stock.
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 serving approximately 3.4 million active customers. The company serves residential customers; commercial customers, such as food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities; and other utilities and community water and wastewater systems.
Further Reading: Ex-Dividend
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