Shares of Global Water Resources Inc (NASDAQ:GWRS) have received an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokerages have set a 1-year consensus price objective of $11.00 for the company and are predicting that the company will post $0.04 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 109 out of 255 based on the ratings given to related companies.
Several research analysts recently weighed in on GWRS shares. Zacks Investment Research cut shares of Global Water Resources from a “buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Thursday, June 21st. ValuEngine upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Finally, TheStreet upgraded shares of Global Water Resources from a “c-” rating to a “b-” rating in a report on Thursday, August 9th.
Global Water Resources stock traded up $0.12 during midday trading on Friday, hitting $10.66. 19,400 shares of the stock were exchanged, compared to its average volume of 19,388. Global Water Resources has a 52-week low of $8.40 and a 52-week high of $10.99. The stock has a market cap of $226.95 million, a PE ratio of 88.83, a price-to-earnings-growth ratio of 3.71 and a beta of -0.07. The company has a debt-to-equity ratio of 7.35, a quick ratio of 0.93 and a current ratio of 0.93.
Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.05. Global Water Resources had a net margin of 18.86% and a return on equity of 28.97%. The business had revenue of $10.84 million for the quarter, compared to analysts’ expectations of $8.70 million. As a group, analysts predict that Global Water Resources will post 0.19 EPS for the current fiscal year.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, October 30th. Shareholders of record on Tuesday, October 16th will be given a $0.0236 dividend. This represents a $0.28 annualized dividend and a yield of 2.66%. The ex-dividend date is Monday, October 15th. Global Water Resources’s dividend payout ratio is 233.33%.
In related news, Director Debra Coy acquired 3,000 shares of the stock in a transaction on Monday, August 27th. The shares were acquired at an average price of $9.77 per share, with a total value of $29,310.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders acquired 7,430 shares of company stock worth $73,830. Insiders own 50.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its position in Global Water Resources by 6.7% in the second quarter. BlackRock Inc. now owns 480,313 shares of the utilities provider’s stock worth $4,514,000 after acquiring an additional 30,230 shares during the period. Water Asset Management LLC raised its position in Global Water Resources by 5.7% in the first quarter. Water Asset Management LLC now owns 443,240 shares of the utilities provider’s stock worth $3,976,000 after acquiring an additional 23,954 shares during the period. Handelsbanken Fonder AB raised its position in Global Water Resources by 2.0% in the second quarter. Handelsbanken Fonder AB now owns 362,648 shares of the utilities provider’s stock worth $3,409,000 after acquiring an additional 7,265 shares during the period. Wells Fargo & Company MN raised its position in Global Water Resources by 2,704.8% in the first quarter. Wells Fargo & Company MN now owns 266,762 shares of the utilities provider’s stock worth $2,393,000 after acquiring an additional 257,251 shares during the period. Finally, Cumberland Partners Ltd bought a new stake in Global Water Resources in the second quarter worth about $2,149,000. 21.09% of the stock is currently owned by institutional investors and hedge funds.
About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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