Global Water Resources Inc (NASDAQ:GWRS) has been given an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy recommendation.
Brokers have set a twelve-month consensus target price of $12.00 for the company and are expecting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Global Water Resources an industry rank of 45 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research cut shares of Global Water Resources from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 12th.
In other news, Director Debra Coy acquired 2,600 shares of the stock in a transaction that occurred on Friday, March 29th. The stock was acquired at an average price of $9.90 per share, for a total transaction of $25,740.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Cindy M. Bowers sold 9,426 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $9.50, for a total transaction of $89,547.00. The disclosure for this sale can be found here. 45.70% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its position in shares of Global Water Resources by 7.2% in the 3rd quarter. Vanguard Group Inc now owns 383,462 shares of the utilities provider’s stock valued at $4,061,000 after buying an additional 25,649 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Global Water Resources by 15.5% in the 3rd quarter. Renaissance Technologies LLC now owns 174,147 shares of the utilities provider’s stock valued at $1,844,000 after buying an additional 23,347 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Global Water Resources by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 383,462 shares of the utilities provider’s stock valued at $4,061,000 after buying an additional 25,649 shares in the last quarter. BlackRock Inc. increased its position in shares of Global Water Resources by 2.3% in the 3rd quarter. BlackRock Inc. now owns 491,142 shares of the utilities provider’s stock valued at $5,202,000 after buying an additional 10,829 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Global Water Resources by 5.5% in the 4th quarter. Handelsbanken Fonder AB now owns 804,497 shares of the utilities provider’s stock valued at $8,158,000 after buying an additional 41,849 shares in the last quarter. Institutional investors and hedge funds own 29.58% of the company’s stock.
Shares of Global Water Resources stock traded down $0.15 on Friday, hitting $9.52. 14,536 shares of the company’s stock traded hands, compared to its average volume of 19,861. The stock has a market capitalization of $208.22 million, a price-to-earnings ratio of 63.47, a PEG ratio of 4.30 and a beta of -0.23. Global Water Resources has a one year low of $8.75 and a one year high of $11.61. The company has a debt-to-equity ratio of 4.24, a quick ratio of 1.79 and a current ratio of 1.79.
Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Global Water Resources had a net margin of 9.58% and a return on equity of 13.74%. The business had revenue of $7.72 million during the quarter, compared to analysts’ expectations of $8.30 million. As a group, research analysts forecast that Global Water Resources will post 0.15 EPS for the current fiscal year.
The company also recently disclosed a monthly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were given a $0.024 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 3.03%. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. Global Water Resources’s dividend payout ratio is currently 193.33%.
Global Water Resources Company Profile
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, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
Featured Article: Percentage Decliners
Get a free copy of the Zacks research report on Global Water Resources (GWRS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.