York Water (NASDAQ:YORW) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
by Danessa Lincoln · The Markets DailyYork Water (NASDAQ:YORW – Get Free Report) posted its earnings results on Friday. The utilities provider reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01, Zacks reports. York Water had a return on equity of 9.38% and a net margin of 28.53%. The business had revenue of $24.33 million for the quarter, compared to analyst estimates of $22.60 million.
York Water Stock Up 1.2%
NASDAQ YORW traded up $0.40 during mid-day trading on Friday, hitting $32.62. The company’s stock had a trading volume of 103,972 shares, compared to its average volume of 140,667. The firm has a market capitalization of $529.39 million, a price-to-earnings ratio of 20.26 and a beta of 0.52. The company’s 50 day simple moving average is $31.95 and its 200 day simple moving average is $31.42. The company has a current ratio of 1.05, a quick ratio of 0.88 and a debt-to-equity ratio of 0.64. York Water has a twelve month low of $28.26 and a twelve month high of $34.81.
York Water Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a $0.2280 dividend. This represents a $0.91 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Wednesday, September 30th. York Water’s dividend payout ratio (DPR) is currently 56.52%.
Insiders Place Their Bets
In other York Water news, Director David M. Velazquez purchased 1,288 shares of the company’s stock in a transaction that occurred on Tuesday, October 20th. The shares were acquired at an average price of $31.07 per share, with a total value of $40,018.16. Following the transaction, the director owned 1,288 shares in the company, valued at $40,018.16. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph Hand sold 8,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $33.28, for a total value of $266,240.00. Following the completion of the transaction, the chief executive officer owned 35,308 shares in the company, valued at $1,175,050.24. This represents a 18.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders acquired 1,410 shares of company stock worth $44,024 over the last ninety days. Insiders own 0.50% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently issued reports on YORW. Weiss Ratings reissued a “hold (c)” rating on shares of York Water in a report on Friday, October 30th. Cantor Fitzgerald set a $31.00 price target on York Water in a research note on Monday, August 10th. One research analyst has rated the stock with a Hold rating. Based on data from MarketBeat, York Water currently has an average rating of “Hold” and a consensus price target of $31.00.
View Our Latest Report on YORW
York Water Company Profile
The York Water Company (NASDAQ:YORW) is a regulated water utility serving communities in south-central Pennsylvania. The company provides residential, commercial and industrial customers with treated drinking water through a network of reservoirs, treatment facilities, pipelines and distribution infrastructure.
In addition to its water operations, York Water provides wastewater collection and related services in portions of its service territory. Its operations primarily cover York County and extend into surrounding areas, including parts of Adams and Franklin counties.
Founded in 1816, York Water is recognized as one of the oldest investor-owned water utilities in the United States.
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