American Water Works (NYSE:AWK) Releases FY24 Earnings Guidance

American Water Works (NYSE:AWK) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $5.20-$5.30 for the period, compared to the consensus EPS estimate of $5.24. American Water Works also updated its FY 2024 guidance to 5.200-5.300 EPS.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AWK. StockNews.com lowered shares of American Water Works from a hold rating to a sell rating in a research report on Wednesday, April 3rd. Evercore ISI lowered shares of American Water Works from an outperform rating to an in-line rating and decreased their target price for the company from $160.00 to $135.00 in a research report on Friday, February 16th.

American Water Works Price Performance

NYSE:AWK traded up $2.80 on Wednesday, reaching $125.12. The stock had a trading volume of 1,994,650 shares, compared to its average volume of 1,471,066. The company has a market capitalization of $24.38 billion, a P/E ratio of 25.59, a price-to-earnings-growth ratio of 2.92 and a beta of 0.63. American Water Works has a 1-year low of $113.34 and a 1-year high of $151.24. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.20. The stock has a fifty day moving average price of $119.14 and a 200-day moving average price of $124.27.

American Water Works (NYSE:AWK) last released its quarterly earnings results on Thursday, February 15th. The utilities provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.04. The firm had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. American Water Works had a net margin of 22.30% and a return on equity of 9.70%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.81 earnings per share. Research analysts forecast that American Water Works will post 5.24 EPS for the current year.

American Water Works Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Tuesday, May 14th will be given a $0.765 dividend. This is a positive change from American Water Works’s previous quarterly dividend of $0.71. This represents a $3.06 dividend on an annualized basis and a yield of 2.45%. American Water Works’s payout ratio is 57.87%.

Insider Buying and Selling at American Water Works

In other American Water Works news, EVP Melanie M. Kennedy sold 843 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $119.59, for a total value of $100,814.37. Following the completion of the transaction, the executive vice president now directly owns 16,240 shares of the company’s stock, valued at $1,942,141.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.08% 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.