SJW Group (NYSE:SJW) Releases FY 2024 Earnings Guidance

SJW Group (NYSE:SJW) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.680-2.780 for the period, compared to the consensus EPS estimate of 2.760. The company issued revenue guidance of -. SJW Group also updated its FY24 guidance to $2.68-2.78 EPS.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Seaport Res Ptn raised SJW Group from a neutral rating to a buy rating in a report on Monday, February 26th. StockNews.com upgraded shares of SJW Group from a sell rating to a hold rating in a research note on Friday. Finally, Wells Fargo & Company upped their price target on shares of SJW Group from $61.00 to $62.00 and gave the company an equal weight rating in a research note on Friday, February 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and an average target price of $66.00.

SJW Group Stock Performance

SJW stock traded down $1.31 during trading hours on Friday, hitting $53.50. 337,252 shares of the stock were exchanged, compared to its average volume of 165,503. The company has a 50-day simple moving average of $55.82 and a two-hundred day simple moving average of $60.54. The firm has a market capitalization of $1.72 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.59 and a beta of 0.58. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.24. SJW Group has a 12 month low of $51.37 and a 12 month high of $78.42.

SJW Group (NYSE:SJW) last announced its earnings results on Wednesday, February 21st. The utilities provider reported $0.59 EPS for the quarter, missing the consensus estimate of $0.60 by ($0.01). SJW Group had a net margin of 12.48% and a return on equity of 7.03%. The company had revenue of $171.34 million during the quarter, compared to the consensus estimate of $161.23 million. During the same quarter in the previous year, the company earned $1.09 earnings per share. On average, analysts forecast that SJW Group will post 2.75 earnings per share for the current fiscal year.

SJW Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 6th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.99%. SJW Group’s dividend payout ratio is currently 60.15%.

SJW Group Company Profile

SJW Group, through its subsidiaries, provides water utility and other related services in the United States. It operates in Water Utility Services and Real Estate Services segments. The company engages in the production, purchase, storage, purification, distribution, wholesale, and retail sale of water and wastewater services; and supplies groundwater from wells, surface water from watershed run-off and diversion, reclaimed water, and imported water purchased from the Santa Clara Valley Water District.