Shares of Global Water Resources Inc (NASDAQ:GWRS) have earned an average broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy recommendation.
Brokers have set a one year consensus price target of $12.00 for the company and are predicting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 61 out of 256 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Global Water Resources from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, May 15th.
Global Water Resources stock opened at $10.09 on Friday. The stock has a market cap of $215.09 million, a price-to-earnings ratio of 67.27, a PEG ratio of 4.37 and a beta of -0.13. Global Water Resources has a 52-week low of $8.82 and a 52-week high of $11.61. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 4.24.
Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, May 8th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.02. Global Water Resources had a return on equity of 13.74% and a net margin of 9.58%. The company had revenue of $7.72 million during the quarter, compared to the consensus estimate of $8.30 million. On average, sell-side analysts expect that Global Water Resources will post 0.15 earnings per share for the current fiscal year.
The company also recently declared a monthly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.0239 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend is Thursday, June 13th. Global Water Resources’s payout ratio is 193.33%.
In other news, Director Debra Coy purchased 2,600 shares of the company’s stock in a transaction dated Friday, March 29th. The shares were acquired at an average price of $9.90 per share, with a total value of $25,740.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 45.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Spark Investment Management LLC raised its stake in shares of Global Water Resources by 9.3% in the first quarter. Spark Investment Management LLC now owns 14,100 shares of the utilities provider’s stock worth $138,000 after purchasing an additional 1,196 shares during the last quarter. Bank of New York Mellon Corp raised its position in Global Water Resources by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 149,428 shares of the utilities provider’s stock valued at $1,515,000 after acquiring an additional 1,540 shares in the last quarter. BlackRock Inc. raised its position in Global Water Resources by 0.4% during the fourth quarter. BlackRock Inc. now owns 492,978 shares of the utilities provider’s stock valued at $4,999,000 after acquiring an additional 1,836 shares in the last quarter. New York State Common Retirement Fund raised its position in Global Water Resources by 93.4% during the fourth quarter. New York State Common Retirement Fund now owns 5,799 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Bank of America Corp DE raised its position in Global Water Resources by 9.5% during the fourth quarter. Bank of America Corp DE now owns 35,075 shares of the utilities provider’s stock valued at $355,000 after acquiring an additional 3,050 shares in the last quarter. Institutional investors own 29.58% of the company’s stock.
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.
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