In a report released today, Ryan Connors from Boenning & Scattergood maintained a Buy rating on Aqua America (WTR), with a price target of $43. The company’s shares closed yesterday at $40.58, close to its 52-week high of $41.51.
Connors noted:
“We have discontinued stand-alone Aqua estimates for 2020 given our expectation of the Peoples acquisition closing in 2019. Ryan M. Connors 610.832.5212 E PS Q4 FY 2018A $0.29 $0.37 $0.44 ($0.02) $1.08 2019E* $0.09 $0.40 $0.50 $0.28 $1.28 Q4 FY 2019 $0.09 $0.40 $0.50 $0.28 $1.28 Q4 FY 2018 $0.29 $0.36 $0.43 $0.31 $1.41 2019 $0.30 $0.39 $0.46 $0.32 $1.44 2020 $0.31 $0.42 $0.50 $0.33 $1.56 *1Q represents actual results. $32.09 – $41.51 Market Cap. (M) $8,755 Shares Out. (M): 215.7 Float Shs. (M): 215.2 Inst. 49% Short Interest (M) 10.4 Avg. Daily Vol.”
According to TipRanks.com, Connors is a 5-star analyst with an average return of 11.3% and a 73.9% success rate. Connors covers the Industrial Goods sector, focusing on stocks such as Watts Water Technologies, Mueller Water Products, and Franklin Electric Co.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Aqua America with a $41.38 average price target.
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Based on Aqua America’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $16.92 million. In comparison, last year the company had a net profit of $50.84 million.
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Aqua America, Inc. is a holding company, which engages in the provision of water and wastewater services. It supports a range of customers across Pennsylvania, Ohio, Texas, Illinois, North Carolina, New Jersey, Indiana, and Virginia.
