American States Water (NYSE:AWR) announced its quarterly earnings on March 5, 2024, reporting earnings per share (EPS) of $0.74. This figure surpassed the consensus estimate of $0.68 by $0.06, according to FiscalAI. The utilities provider achieved a return on equity of 13.26% and a net profit margin of 20.43%, indicating robust financial health.
The company generated revenue of $164.28 million for the quarter, falling short of the expected $168.82 million. Despite the revenue miss, the positive earnings report reflects strong operational efficiency and effective cost management.
Stock Performance and Market Overview
On the day of the earnings release, American States Water’s stock experienced a decline, trading down by $1.42 to reach $73.46. A total of 250,986 shares changed hands, slightly above the average trading volume of 247,587 shares. The stock has displayed a 52-week range, with a low of $69.45 and a high of $82.94.
Key financial ratios for the company include a current ratio of 1.27, a quick ratio of 1.18, and a debt-to-equity ratio of 0.90. Currently, American States Water holds a market capitalization of $2.84 billion, with a price-to-earnings (P/E) ratio of 21.73 and a price/earnings to growth (PEG) ratio of 3.81. The stock’s beta stands at 0.69, indicating lower volatility compared to the broader market.
Dividend Declaration and Analyst Ratings
In addition to its earnings report, American States Water declared a quarterly dividend of $0.504 per share, scheduled for payment on March 5, 2024. Investors on record as of February 23, 2024, will receive this payment, which translates to an annualized dividend of $2.02 and a yield of 2.7%. The ex-dividend date is also set for February 23, 2024. The company’s dividend payout ratio currently sits at 59.76%, reflecting a commitment to returning value to shareholders.
Analysts have recently expressed their views on American States Water, with Weiss Ratings maintaining a “hold (c)” rating in a report dated January 21, 2024. According to data from MarketBeat, two analysts rate the stock as a hold, with an average price target of $84.00.
American States Water Company, headquartered in San Dimas, California, has been providing essential utility services since its founding in 1929. The company operates primarily through two regulated segments: water and electric utilities. It also offers non-regulated water system services. American States Water serves over 250,000 residential, commercial, and industrial customers across 35 communities in six counties in California.
The company’s long-standing reputation and strategic growth through acquisitions position it as a reliable provider of essential services in its core markets.
