FY2023 EPS Estimates for SJW Group Reduced by Analyst (NYSE:SJW)

SJW Group (NYSE:SJW – Get Rating) – Equities research analysts at Seaport Res Ptn reduced their FY2023 EPS estimates for SJW Group in a research note issued to investors on Wednesday, May 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $2.45 per share for the year, down from their prior estimate of $2.46. The consensus estimate for SJW Group’s current full-year earnings is $2.47 per share.

SJW Group (NYSE:SJW – Get Rating) last posted its earnings results on Monday, May 1st. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The company had revenue of $137.30 million for the quarter, compared to analyst estimates of $134.02 million. SJW Group had a net margin of 12.88% and a return on equity of 7.57%. During the same period in the previous year, the business posted $0.09 EPS.

A number of other research firms also recently issued reports on SJW. Wells Fargo & Company downgraded shares of SJW Group from an “equal weight” rating to an “underweight” rating and set a $76.00 price target on the stock. in a research note on Friday, May 12th. They noted that the move was a valuation call. StockNews.com initiated coverage on shares of SJW Group in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. downgraded shares of SJW Group from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $86.00 to $84.00 in a research note on Tuesday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.00.

SJW Group Price Performance

SJW Group stock opened at $74.79 on Thursday. The company’s 50 day simple moving average is $76.75 and its 200-day simple moving average is $77.08. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of 28.12 and a beta of 0.57. SJW Group has a 1 year low of $55.74 and a 1 year high of $83.88. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.91 and a current ratio of 0.91.

Institutional Trading of SJW Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co. NY boosted its holdings in shares of SJW Group by 9.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 1,755 shares of the utilities provider’s stock valued at $142,000 after acquiring an additional 147 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its stake in shares of SJW Group by 9.1% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,755 shares of the utilities provider’s stock valued at $142,000 after purchasing an additional 147 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of SJW Group by 1.3% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,279 shares of the utilities provider’s stock valued at $1,078,000 after purchasing an additional 176 shares during the period. Ellevest Inc. lifted its stake in shares of SJW Group by 87.6% in the fourth quarter. Ellevest Inc. now owns 424 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 198 shares during the period. Finally, Arizona State Retirement System lifted its stake in shares of SJW Group by 2.9% in the first quarter. Arizona State Retirement System now owns 7,028 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 72.08% of the company’s stock.

Insider Activity

In other SJW Group news, Director Carl Guardino sold 777 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $76.03, for a total transaction of $59,075.31. Following the transaction, the director now directly owns 3,184 shares of the company’s stock, valued at approximately $242,079.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Craig J. Patla sold 725 shares of SJW Group stock in a transaction dated Monday, March 27th. The shares were sold at an average price of $76.09, for a total value of $55,165.25. Following the sale, the insider now owns 7,038 shares of the company’s stock, valued at $535,521.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Carl Guardino sold 777 shares of SJW Group stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $76.03, for a total transaction of $59,075.31. Following the completion of the sale, the director now directly owns 3,184 shares in the company, valued at approximately $242,079.52. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.

SJW Group Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Monday, May 8th will be issued a $0.38 dividend. This is a boost from SJW Group’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, May 5th. This represents a $1.52 annualized dividend and a dividend yield of 2.03%. SJW Group’s dividend payout ratio is presently 57.14%.

About SJW Group

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SJW Group is a holding company, which through its subsidiaries provides water utility services. It operates through the Water Utility Services and Real Estate Services segments. The Water Utility Services segment offers water utility and utility-related services. The Real Estate Services segment engages in property management and investment activity.