FY2024 Earnings Forecast for American Water Works Company, Inc. Issued By Seaport Res Ptn (NYSE:AWK)

American Water Works Company, Inc. (NYSE:AWK) – Research analysts at Seaport Res Ptn upped their FY2024 EPS estimates for shares of American Water Works in a note issued to investors on Wednesday, April 24th. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings of $5.25 per share for the year, up from their previous forecast of $5.16. The consensus estimate for American Water Works’ current full-year earnings is $5.24 per share. Seaport Res Ptn also issued estimates for American Water Works’ FY2025 earnings at $5.70 EPS and FY2026 earnings at $6.11 EPS.

AWK has been the subject of several other reports. Evercore ISI cut shares of American Water Works from an “outperform” rating to an “in-line” rating and lowered their price objective for the company from $160.00 to $135.00 in a research note on Friday, February 16th. StockNews.com cut shares of American Water Works from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd.

American Water Works Stock Down 0.6 %

Shares of NYSE AWK opened at $120.78 on Friday. American Water Works has a 52-week low of $113.34 and a 52-week high of $151.24. The firm has a fifty day moving average of $119.13 and a 200-day moving average of $124.20. The stock has a market capitalization of $23.53 billion, a PE ratio of 24.70, a P/E/G ratio of 2.90 and a beta of 0.63. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.20.

American Water Works (NYSE:AWK) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.04. American Water Works had a net margin of 22.30% and a return on equity of 9.70%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company earned $0.81 EPS. The business’s quarterly revenue was up 10.8% compared to the same quarter last year.

Insider Buying and Selling

In related news, EVP Melanie M. Kennedy sold 843 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $119.59, for a total transaction of $100,814.37. Following the completion of the sale, the executive vice president now directly owns 16,240 shares of the company’s stock, valued at approximately $1,942,141.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.08% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On American Water Works

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in American Water Works by 3.9% in the 4th quarter. Raymond James & Associates now owns 538,884 shares of the utilities provider’s stock worth $71,127,000 after buying an additional 20,288 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in American Water Works by 7,752.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 483,391 shares of the utilities provider’s stock worth $63,803,000 after buying an additional 477,235 shares in the last quarter. Covea Finance lifted its holdings in American Water Works by 20.4% in the 4th quarter. Covea Finance now owns 278,493 shares of the utilities provider’s stock worth $36,758,000 after buying an additional 47,200 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in American Water Works by 27.8% in the 3rd quarter. Natixis Advisors L.P. now owns 81,976 shares of the utilities provider’s stock worth $10,151,000 after buying an additional 17,834 shares in the last quarter. Finally, Arlington Trust Co LLC acquired a new position in American Water Works in the 4th quarter worth $1,207,000. Institutional investors and hedge funds own 86.58% 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.