Middlesex Water Co (NASDAQ: MSEX) has reported earnings for its fourth fiscal quarter (ending December 31) of $0.32 versus $0.40 for the same period a year ago — a decline of -20%. Relative to the consensus estimate of $0.51, this was a shortfall of $-0.19. For the latest four quarters through December 31, E.P.S. were $1.77 compared to $2.40 a year ago — a decline of -26%.
Recent Price Action
Middlesex Water Co (NASDAQ: MSEX) stock closed at $50.89 on 2/29/24 after a slight decline of -0.4%. NORMAL trading volume accompanied the decline. The stock has declined -6.3% during the last week and has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, MSEX is expected to continue to be a modest Value Builder.
Middlesex Water has a current Value Trend Rating of F (Lowest Rating). This rating combines consistent signals from two proprietary PTR measures of a stock’s attractiveness. Middlesex Water has a slightly negative Appreciation Score of 32 and a poor Power Rating of 21, producing the Lowest Value Trend Rating.
Rating Review
In light of this discouraging new earnings information and negative market action we are reviewing our current Overall Rating of F. We would continue to view the shares with caution pending completion of this review in the next several days.
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