H2O America (NASDAQ:HTO) Shares Cross Below 200-Day Moving Average on Disappointing Earnings

H2O America (NASDAQ:HTO)’s stock price crossed below its 200-day moving average during trading on Monday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $58.62 and traded as low as $58.03. H2O America shares last traded at $58.48, with a volume of 609,013 shares trading hands.

The utilities provider reported $1.04 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.02). The business had revenue of $250.23 million during the quarter. H2O America had a net margin of 12.91% and a return on equity of 6.65%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Seaport Research Partners reaffirmed a “buy” rating and set a $67.00 price target on shares of H2O America in a research report on Wednesday, August 12th. Barclays cut their target price on H2O America from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Robert W. Baird boosted their price target on shares of H2O America from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, July 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of H2O America in a report on Monday, August 3rd. Finally, Wall Street Zen raised shares of H2O America from a “sell” rating to a “hold” rating in a research note on Sunday, August 16th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, H2O America has an average rating of “Moderate Buy” and a consensus price target of $64.50.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new position in shares of H2O America in the 2nd quarter valued at $1,805,000. Jupiter Topco LLC acquired a new stake in H2O America in the second quarter valued at about $908,000. The Manufacturers Life Insurance Company purchased a new stake in shares of H2O America in the second quarter valued at approximately $974,000. Man Group plc purchased a new stake in shares of H2O America during the 2nd quarter worth $1,594,000. Finally, Louisiana State Employees Retirement System acquired a new position in H2O America during the first quarter worth about $974,000. Institutional investors and hedge funds own 84.29% of the company’s stock.

H2O America Stock Performance

The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 20.66, a PEG ratio of 6.80 and a beta of 0.33. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.02. The firm has a fifty day moving average of $61.34 and a 200-day moving average of $58.62.

H2O America Company Profile