Connecticut Water Service (NASDAQ:CTWS) Releases Quarterly Earnings Results

Connecticut Water Service (NASDAQ:CTWS) issued its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.02), MarketWatch Earnings reports. The company had revenue of $27.86 million during the quarter. Connecticut Water Service had a net margin of 16.21% and a return on equity of 8.72%.

Connecticut Water Service stock opened at $69.84 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.45 and a debt-to-equity ratio of 0.88. The firm has a market capitalization of $842.27 million, a price-to-earnings ratio of 30.50 and a beta of -0.03. Connecticut Water Service has a 52 week low of $62.05 and a 52 week high of $70.44.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.3275 dividend. The ex-dividend date is Friday, May 31st. This represents a $1.31 dividend on an annualized basis and a yield of 1.88%. This is a positive change from Connecticut Water Service’s previous quarterly dividend of $0.31. Connecticut Water Service’s payout ratio is currently 54.59%.

Several research analysts have commented on CTWS shares. BidaskClub raised Connecticut Water Service from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet cut Connecticut Water Service from a “b” rating to a “c+” rating in a research report on Thursday, March 7th. Wells Fargo & Co reaffirmed a “hold” rating on shares of Connecticut Water Service in a research note on Friday, March 1st. Finally, Zacks Investment Research raised Connecticut Water Service from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $66.50.

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About Connecticut Water Service

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.

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Earnings History for Connecticut Water Service (NASDAQ:CTWS)

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