SJW Group (NYSE:SJW) Updates FY24 Earnings Guidance

SJW Group (NYSE:SJW) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.68-2.78 for the period, compared to the consensus earnings per share estimate of $2.76.

SJW Group Stock Down 1.3 %

SJW stock opened at $60.87 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.55 and a current ratio of 0.49. The company has a market capitalization of $1.96 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.95 and a beta of 0.61. SJW Group has a fifty-two week low of $51.17 and a fifty-two week high of $72.17. The stock has a fifty day moving average of $55.26 and a 200-day moving average of $56.73.

SJW Group (NYSE:SJW) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. SJW Group had a return on equity of 7.10% and a net margin of 12.48%. The business had revenue of $149.38 million during the quarter, compared to the consensus estimate of $140.60 million. As a group, equities research analysts predict that SJW Group will post 2.75 earnings per share for the current year.

SJW Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Monday, August 5th will be paid a $0.40 dividend. The ex-dividend date is Monday, August 5th. This represents a $1.60 annualized dividend and a yield of 2.63%. SJW Group’s dividend payout ratio is currently 60.15%.

Analyst Upgrades and Downgrades

SJW has been the subject of several analyst reports. StockNews.com upgraded SJW Group from a sell rating to a hold rating in a research note on Friday, April 26th. Wells Fargo & Company raised their target price on SJW Group from $62.00 to $63.00 and gave the stock an equal weight rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $66.33.

Insider Activity

In other news, insider Craig J. Patla sold 1,400 shares of SJW Group stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $55.62, for a total transaction of $77,868.00. Following the completion of the sale, the insider now owns 3,300 shares in the company, valued at approximately $183,546. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.

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.