SJW Group (NYSE:SJW) Issues 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 research analysts have recently commented on the stock. StockNews.com raised shares of SJW Group from a sell rating to a hold rating in a report on Friday. Wells Fargo & Company increased their price objective on shares of SJW Group from $61.00 to $62.00 and gave the stock an equal weight rating in a research note on Friday, February 23rd. Finally, Seaport Res Ptn upgraded shares of SJW Group from a neutral rating to a buy rating in a research report on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $66.00.

SJW Group Price Performance

SJW Group stock traded down $1.31 during midday trading on Friday, reaching $53.50. The company’s stock had a trading volume of 337,252 shares, compared to its average volume of 165,503. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.24. The stock has a market cap of $1.72 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.59 and a beta of 0.58. SJW Group has a 52 week low of $51.37 and a 52 week high of $78.42. The business has a 50-day moving average price of $55.82 and a 200-day moving average price of $60.54.

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

SJW Group Dividend Announcement

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

About SJW Group

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.