Middlesex Water Co reports results for the quarter ended in December - Earnings Summary

Middlesex Water Co

01/03/2024 24:23

* Middlesex Water Co  MSEX.OQ  reported quarterly adjusted
earnings of 32 cents​​ per share for the quarter ended in
December, lower than the same quarter last year, when the
company reported EPS of 40 cents.  The mean expectation of
two analysts for the quarter was for earnings of 52 cents per
share. Wall Street expected results to range from 46 cents to 58
cents per share.
    * Revenue fell 0.6% to $38.60 million from a year ago;
analysts
expected $44.90 million. 
    * Middlesex Water Co's reported EPS for the quarter was 32
cents​.
    * Middlesex Water Co shares had fallen by 22.1% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 2 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the water &
related
utilities peer group is also "strong buy"

Wall Street's median 12-month price target for Middlesex Water
Co is $77.00 
This summary was machine generated from LSEG data March 1 at
12:22 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.52           0.32           Missed
 Sep. 30 2023      0.87           0.56           Missed
 Jun. 30 2023      0.60           0.55           Missed
 Mar. 31 2023      0.47           0.33           Missed