SJW Group (NYSE:SJW) Updates FY 2022 Earnings Guidance

SJW Group (NYSE:SJW – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $2.30-$2.40 for the period, compared to the consensus EPS estimate of $2.40. The company issued revenue guidance of -.

A number of equities analysts have issued reports on the company. Zacks Investment Research cut SJW Group from a hold rating to a sell rating in a report on Wednesday, March 30th. Seaport Res Ptn raised SJW Group from a neutral rating to a buy rating in a report on Tuesday, January 25th. Barclays upped their target price on SJW Group from $70.00 to $73.00 and gave the stock an equal weight rating in a report on Tuesday, March 15th. JPMorgan Chase & Co. raised SJW Group from a neutral rating to an overweight rating and set a $67.00 target price for the company in a report on Monday, May 2nd. Finally, StockNews.com assumed coverage on SJW Group in a report on Thursday, March 31st. They issued a hold rating for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Hold and a consensus price target of $72.50.

Shares of SJW stock traded up $1.26 on Thursday, hitting $60.68. The company had a trading volume of 4,760 shares, compared to its average volume of 112,258. The stock’s 50-day moving average is $65.19 and its two-hundred day moving average is $67.46. SJW Group has a twelve month low of $57.17 and a twelve month high of $73.69. The firm has a market cap of $1.83 billion, a P/E ratio of 28.99 and a beta of 0.59. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.66 and a current ratio of 0.63.

SJW Group (NYSE:SJW – Get Rating) last released its earnings results on Wednesday, April 27th. The utilities provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.10 by $0.02. SJW Group had a return on equity of 5.21% and a net margin of 10.56%. During the same quarter in the previous year, the company earned $0.12 earnings per share. Equities research analysts predict that SJW Group will post 2.33 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 9th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 6th. This represents a $1.44 annualized dividend and a yield of 2.37%. SJW Group’s payout ratio is currently 70.24%.

A number of large investors have recently made changes to their positions in SJW. Morgan Stanley lifted its holdings in shares of SJW Group by 16.5% in the second quarter. Morgan Stanley now owns 72,679 shares of the utilities provider’s stock valued at $4,601,000 after purchasing an additional 10,269 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of SJW Group by 9.6% in the third quarter. Royal Bank of Canada now owns 14,931 shares of the utilities provider’s stock valued at $986,000 after purchasing an additional 1,308 shares in the last quarter. LPL Financial LLC bought a new position in shares of SJW Group in the third quarter valued at approximately $302,000. Bank of New York Mellon Corp lifted its holdings in SJW Group by 1.0% during the third quarter. Bank of New York Mellon Corp now owns 226,997 shares of the utilities provider’s stock worth $14,996,000 after acquiring an additional 2,280 shares during the period. Finally, Citigroup Inc. lifted its holdings in SJW Group by 107.1% during the fourth quarter. Citigroup Inc. now owns 7,707 shares of the utilities provider’s stock worth $564,000 after acquiring an additional 3,986 shares during the period. Institutional investors and hedge funds own 77.21% of the company’s stock.

SJW Group Company Profile (Get Rating)

SJW Group, through its subsidiaries, provides water utility services in the United States. It engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services. The company also provides non-tariffed services, including water system operations, maintenance agreements, and antenna site leases; contracted services and sewer operations to water utilities; and a Linebacker protection plan for public drinking water customers in Connecticut and Maine.

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