Tanya Moniz-Witten will be taking on the role of President at San Jose Water starting on March 25, 2024. The news of her appointment was officially revealed by SJW Group (NYSE: SJW) on March 4, 2024.
March 4, 2024: SJW Group (SJW) Stock Shows Positive Momentum with After-Hours Trading on the Rise
On March 4, 2024, SJW Group (SJW) stock showed some positive momentum, closing at $56.58, which was near the bottom of its 52-week range and below its 200-day simple moving average. Despite trading at a lower range, SJW shares saw a slight increase of $0.18, or 0.31%, since the market last closed.
After-hours trading also showed a continued upward trend for SJW stock, with a further increase of $0.14. This suggests that investors may be showing confidence in the company’s performance and future prospects.
While the stock is still trading below its 200-day moving average, the recent uptick in price could indicate a potential turnaround for SJW. Investors will be keeping a close eye on how the stock performs in the coming days to see if this positive momentum can be sustained.
SJW Group Reports Mixed Financial Performance for 2023: Revenue Up, Net Income Down
On March 4, 2024, SJW Group (SJW) reported its financial performance for the past year and the fourth quarter. The company’s total revenue for the year was $670.36 million, which represented an 8.0% increase compared to the previous year. However, the total revenue for the fourth quarter was $171.34 million, which remained flat compared to the previous quarter.
Despite the increase in total revenue for the year, SJW’s net income for the year was $84.99 million, which was a 15.11% increase compared to the previous year. However, the net income for the fourth quarter was $18.95 million, representing a significant decrease of 47.69% compared to the previous quarter.
The earnings per share (EPS) for SJW for the year was $2.68, which was a 10.61% increase compared to the previous year. However, the EPS for the fourth quarter was $0.59, which represented a significant decrease of 47.9% compared to the previous quarter.
Overall, SJW Group’s financial performance on March 4, 2024, showed mixed results. While the company experienced growth in total revenue and net income compared to the previous year, there was a significant decrease in net income and EPS for the fourth quarter compared to the previous quarter. Investors and analysts may be closely monitoring SJW’s performance in the coming quarters to see if the company can sustain its growth and improve its profitability.
