American Water Works (NYSE:AWK) Issues Earnings Results

American Water Works (NYSE:AWK) released its quarterly earnings results on Wednesday. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.03), Briefing.com reports. American Water Works had a return on equity of 9.74% and a net margin of 22.27%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $962.30 million. During the same quarter last year, the company earned $0.91 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. American Water Works updated its FY24 guidance to $5.20-$5.30 EPS and its FY 2024 guidance to 5.200-5.300 EPS.

American Water Works Stock Performance

AWK traded up $2.80 on Friday, reaching $128.75. The company had a trading volume of 1,735,768 shares, compared to its average volume of 1,694,021. The stock has a 50-day moving average price of $119.33 and a 200-day moving average price of $124.29. The stock has a market capitalization of $25.08 billion, a PE ratio of 26.12, a P/E/G ratio of 3.00 and a beta of 0.62. American Water Works has a 1 year low of $113.34 and a 1 year high of $151.24. The company has a quick ratio of 0.59, a current ratio of 0.85 and a debt-to-equity ratio of 1.26.

American Water Works Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Tuesday, May 14th will be issued a $0.765 dividend. This is a boost from American Water Works’s previous quarterly dividend of $0.71. The ex-dividend date of this dividend is Monday, May 13th. This represents a $3.06 annualized dividend and a dividend yield of 2.38%. American Water Works’s dividend payout ratio is presently 57.40%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AWK. Evercore ISI cut American Water Works from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $160.00 to $135.00 in a research note on Friday, February 16th. StockNews.com cut American Water Works from a “hold” rating to a “sell” rating in a research note on Wednesday, April 3rd.

Insider Transactions at American Water Works

In other American Water Works news, EVP Melanie M. Kennedy sold 843 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $119.59, for a total value of $100,814.37. Following the completion of the sale, the executive vice president now owns 16,240 shares in the company, valued at $1,942,141.60. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

About American Water Works

American Water Works Company, Inc, through its subsidiaries, provides water and wastewater services in the United States. It offers water and wastewater services to approximately 1,700 communities in 14 states serving approximately 3.5 million active customers. The company serves residential customers; commercial customers, including food and beverage providers, commercial property developers and proprietors, and energy suppliers; fire service and private fire customers; industrial customers, such as large-scale manufacturers, mining, and production operations; public authorities comprising government buildings and other public sector facilities, such as schools and universities; and other utilities and community water and wastewater systems.