SJW (SJW) got here out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.35 per share. This compares to earnings of $0.37 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of two.86%. 1 / 4 in the past, it was anticipated that this dad or mum of San Jose Water Co. Would put up earnings of $0.60 per share when it truly produced earnings of $0.59, delivering a shock of -1.67%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
SJW
The sustainability of the inventory’s fast worth motion based mostly on the recently-released numbers and future earnings expectations will principally depend upon administration’s commentary on the earnings name.
SJW shares have misplaced about 15.6% because the starting of the 12 months versus the S&P 500’s acquire of 6.3%.
What’s Subsequent for SJW?
Whereas SJW has underperformed the market thus far this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested score software just like the Zacks Rank, which has a powerful monitor report of harnessing the ability of earnings estimate revisions.
Forward of this earnings release, the estimate revisions pattern for SJW: blended. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out consistent with the market within the close to future. You may see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be fascinating to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.57 on $165.1 million in revenues for the approaching quarter and $2.75 on $694.39 million in revenues for the present fiscal 12 months.
Traders ought to be aware of the truth that the outlook for the business can have a fabric influence on the efficiency of the inventory as nicely. When it comes to the Zacks Trade Rank, Utility – Water Provide is at the moment within the high 27% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
York Water (YORW), one other inventory in the identical business, has but to report outcomes for the quarter ended March 2024.
This purifying and distribution firm is predicted to put up quarterly earnings of $0.29 per share in its upcoming report, which represents a year-over-year change of +11.5%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
York Water’s revenues are anticipated to be $17 million, up 10.4% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
