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

Middlesex Water Co

09/05/2024 19:53

* Middlesex Water Co  MSEX.OQ  reported quarterly adjusted
earnings of 59 cents​​ per share for the quarter ended in March,
higher than the same quarter last year, when the company
reported EPS of 33 cents.  The mean expectation of two analysts
for the quarter was for earnings of 47 cents per share. Wall
Street expected results to range from 45 cents to 48 cents per
share.
    * Revenue rose 6.2% to $40.52 million from a year ago;
analysts
expected $44.55 million. 
    * Middlesex Water Co's reported EPS for the quarter was 59
cents​.
    * Middlesex Water Co shares had risen by 3.7% this
quarter and
lost 17.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 1.1%
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 $62.50 
This summary was machine generated from LSEG data May 9 at 06:53
p.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
 Mar. 31 2024      0.47           0.59           Beat
 Dec. 31 2023      0.52           0.32           Missed
 Sep. 30 2023      0.87           0.56           Missed
 Jun. 30 2023      0.60           0.55           Missed