BidaskClub upgraded shares of Connecticut Water Service (NASDAQ:CTWS) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.
Separately, Zacks Investment Research downgraded shares of Connecticut Water Service from a hold rating to a sell rating in a research report on Monday, June 10th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of Hold and a consensus target price of $66.50.
Shares of NASDAQ CTWS traded up $0.12 during midday trading on Thursday, reaching $69.87. The company’s stock had a trading volume of 21,619 shares, compared to its average volume of 24,663. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.88. Connecticut Water Service has a fifty-two week low of $62.05 and a fifty-two week high of $70.50. The stock’s 50 day moving average price is $69.55. The firm has a market cap of $841.41 million, a P/E ratio of 30.51 and a beta of -0.07.
Connecticut Water Service (NASDAQ:CTWS) last released its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.02). Connecticut Water Service had a net margin of 16.21% and a return on equity of 8.72%. The business had revenue of $27.86 million during the quarter. Sell-side analysts anticipate that Connecticut Water Service will post 2.3 earnings per share for the current year.
Large investors have recently made changes to their positions in the stock. NEXT Financial Group Inc increased its stake in Connecticut Water Service by 62.6% in the second quarter. NEXT Financial Group Inc now owns 1,075 shares of the utilities provider’s stock valued at $75,000 after acquiring an additional 414 shares during the last quarter. FMR LLC increased its stake in Connecticut Water Service by 50.1% in the fourth quarter. FMR LLC now owns 1,543 shares of the utilities provider’s stock valued at $103,000 after acquiring an additional 515 shares during the last quarter. Contravisory Investment Management Inc. bought a new position in Connecticut Water Service in the first quarter valued at approximately $119,000. Legal & General Group Plc increased its stake in Connecticut Water Service by 27.8% in the fourth quarter. Legal & General Group Plc now owns 2,360 shares of the utilities provider’s stock valued at $158,000 after acquiring an additional 514 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Connecticut Water Service in the first quarter valued at approximately $173,000. 50.99% of the stock is currently owned by institutional investors and hedge funds.
Connecticut Water Service Company Profile
Connecticut Water Service, Inc, together with its subsidiaries, operates as a regulated water company. The company operates through three segments: Water Operations, Real Estate Transactions, and Services and Rentals. The Water Operations segment supplies public drinking water and provides wastewater services.
Read More: What is a Derivative?
Receive News & Ratings for Connecticut Water Service Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Connecticut Water Service and related companies with MarketBeat.com's FREE daily email newsletter.