may delivered a positive earnings surprise Middlesex Water (NASDAQ:MSEX)

Earnings results for Middlesex Water (NASDAQ:MSEX)

Middlesex Water Company is estimated to report earnings on 05/04/2021. The upcoming earnings date is derived from an algorithm based on a company’s historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 1 analysts’ forecasts, the consensus EPS forecast for the quarter is $0.46. The reported EPS for the same quarter last year was $0.44.

Middlesex Water last issued its quarterly earnings data on February 25th, 2021. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.04. The company had revenue of $34.63 million for the quarter, compared to analyst estimates of $34 million. Middlesex Water has generated $2.01 earnings per share over the last year and currently has a price-to-earnings ratio of 37.8. Middlesex Water has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Tuesday, May 4th, 2021 based off prior year’s report dates.

Analyst Opinion on Middlesex Water (NASDAQ:MSEX)

1 Wall Street analysts have issued ratings and price targets for Middlesex Water in the last 12 months. Their average twelve-month price target is $73.00, predicting that the stock has a possible downside of 11.00%. The high price target for MSEX is $73.00 and the low price target for MSEX is $73.00. There are currently 1 hold rating for the stock, resulting in a consensus rating of “Hold.”

Middlesex Water has received a consensus rating of Hold. The company’s average rating score is 2.00, and is based on no buy ratings, 1 hold rating, and no sell ratings. According to analysts’ consensus price target of $73.00, Middlesex Water has a forecasted downside of 11.0% from its current price of $82.02. Middlesex Water has only been the subject of 1 research reports in the past 90 days.

Dividend Strength: Middlesex Water (NASDAQ:MSEX)

Middlesex Water has a dividend yield of 1.33%, which is in the bottom 25% of all stocks that pay dividends. Middlesex Water has been increasing its dividend for 26 years. The dividend payout ratio of Middlesex Water is 54.23%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, Middlesex Water will have a dividend payout ratio of 49.32% next year. This indicates that Middlesex Water will be able to sustain or increase its dividend.

Insiders buying/selling: Middlesex Water (NASDAQ:MSEX)

In the past three months, Middlesex Water insiders have not sold or bought any company stock. Only 3.13% of the stock of Middlesex Water is held by insiders. 59.21% of the stock of Middlesex Water is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

Earnings and Valuation of Middlesex Water (NASDAQ:MSEX

Earnings for Middlesex Water are expected to grow by 3.27% in the coming year, from $2.14 to $2.21 per share. The P/E ratio of Middlesex Water is 37.80, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 23.67. The P/E ratio of Middlesex Water is 37.80, which means that it is trading at a more expensive P/E ratio than the Utilities sector average P/E ratio of about 31.75. Middlesex Water has a P/B Ratio of 4.41. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

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