Wall Street analyst estimates for Middlesex Water Company (MSEX): consensus price target, buy/hold/sell recommendations and forecasts for revenue, EPS and EBITDA for the upcoming fiscal years.
Middlesex Water Company primarily delivers vital water and wastewater utility services, structured around two key business units. Its regulated operations are dedicated to the acquisition, treatment, and distribution of water to a broad spectrum of retail and wholesale clients, including residential, commercial, industrial, and fire protection users. This division also oversees regulated wastewater systems in both New Jersey and Delaware.
Recent Earnings Surprises
| Date | EPS Actual | EPS Est. | vs Est. |
|---|---|---|---|
| 2026-10-23 | $0.82 | ||
| 2026-07-30 | $0.79 | $0.66 | +20.2% |
| 2026-04-30 | $0.57 | $0.57 | +0.0% |
| 2026-02-19 | $0.46 | $0.49 | -6.1% |
| 2025-10-31 | $0.77 | $0.86 | -10.5% |
| 2025-07-31 | $0.60 | $0.68 | -11.8% |
| 2025-05-01 | $0.53 | $0.55 | -3.6% |
| 2025-02-28 | $0.49 | $0.36 | +36.1% |
Valuation Ratios
| P/E Ratio | 20.35 |
| Price / Book | 1.89 |
| EV / EBITDA | 14.72 |
| Dividend Yield | 2.72% |
Income Statement (10y)
| Year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $132.9M | $130.8M | $138.1M | $134.6M | $141.6M | $143.1M | $162.4M | $166.3M | $191.9M | $194.7M |
| Cost of Revenue | $65.5M | $64.7M | $71.6M | $68.0M | $70.8M | $73.7M | $79.1M | $83.1M | $92.4M | $118.4M |
| Gross Profit | $67.4M | $66.1M | $66.5M | $66.6M | $70.8M | $69.5M | $83.3M | $83.2M | $99.5M | $76.3M |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Selling, General & Admin | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Expenses | $26.7M | $27.5M | $29.4M | $31.1M | $33.4M | $36.3M | $36.0M | $43.9M | $46.3M | $21.9M |
| Operating Income | $40.3M | $37.8M | $37.1M | $35.5M | $37.4M | $33.2M | $47.3M | $39.2M | $53.2M | $54.4M |
| EBITDA | $52.7M | $53.6M | $54.6M | $52.1M | $58.6M | $63.3M | $80.2M | $72.7M | $92.1M | $94.4M |
| Interest Expense | $4.7M | $4.8M | $5.4M | $4.1M | $3.5M | $5.5M | $7.1M | $10.7M | $12.8M | $14.3M |
| Pre-tax Income | $34.5M | $33.9M | $33.4M | $30.7M | $34.3M | $31.1M | $45.7M | $32.6M | $51.3M | $47.6M |
| Income Tax | $11.7M | $11.1M | $924,000 | -$3.1M | -$4.1M | -$5.5M | $3.2M | $1.0M | $6.9M | $4.8M |
| Net Income | $22.7M | $22.8M | $32.5M | $33.9M | $38.4M | $36.5M | $42.4M | $31.5M | $44.4M | $42.8M |
| EPS | $1.39 | $1.39 | $1.98 | $2.02 | $2.19 | $2.08 | $2.40 | $1.77 | $2.48 | $2.36 |
| EPS (Diluted) | $1.38 | $1.38 | $1.96 | $2.01 | $2.18 | $2.07 | $2.39 | $1.76 | $2.47 | $2.36 |
| Shares Outstanding (Diluted) | $16.4M | $16.5M | $16.5M | $16.8M | $17.6M | $17.6M | $17.7M | $17.8M | $17.9M | $18.2M |
Price
| Price | $52.90 (closing price, October 6, 2026) |
| Market Cap | $997M |
| Exchange | NASDAQ |
| Country | US |
Related companies: WTTR · AWK · 0HEW.L · SBS · WTRG · UU.L · SVT.L · AWR
Explore sector: Utilities · Regulated Water
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