Global Water Resources (NASDAQ:GWRS) issued its earnings results on Wednesday. The utilities provider reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.05, reports. The company had revenue of $10.84 million for the quarter, compared to analysts’ expectations of $8.70 million. Global Water Resources had a net margin of 14.70% and a return on equity of 16.96%.
Global Water Resources stock traded up $0.05 during trading hours on Friday, hitting $9.65. The company had a trading volume of 16,453 shares, compared to its average volume of 17,963. The stock has a market cap of $205.96 million, a P/E ratio of 78.42, a P/E/G ratio of 3.76 and a beta of -0.07. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 8.24. Global Water Resources has a one year low of $8.40 and a one year high of $10.00.
The business also recently declared a monthly dividend, which will be paid on Thursday, August 30th. Shareholders of record on Thursday, August 16th will be issued a $0.0236 dividend. The ex-dividend date of this dividend is Wednesday, August 15th. This represents a $0.28 annualized dividend and a yield of 2.94%. Global Water Resources’s dividend payout ratio is currently 233.33%.
A number of institutional investors have recently added to or reduced their stakes in GWRS. Renaissance Technologies LLC raised its holdings in Global Water Resources by 30.9% in the 4th quarter. Renaissance Technologies LLC now owns 132,100 shares of the utilities provider’s stock valued at $1,234,000 after acquiring an additional 31,200 shares during the period. Deutsche Bank AG raised its holdings in Global Water Resources by 27.5% in the 4th quarter. Deutsche Bank AG now owns 63,356 shares of the utilities provider’s stock valued at $590,000 after acquiring an additional 13,649 shares during the period. Wells Fargo & Company MN raised its holdings in Global Water Resources by 2,704.8% in the 1st quarter. Wells Fargo & Company MN now owns 266,762 shares of the utilities provider’s stock valued at $2,393,000 after acquiring an additional 257,251 shares during the period. American Century Companies Inc. bought a new position in Global Water Resources in the 1st quarter valued at about $263,000. Finally, Water Asset Management LLC raised its holdings in Global Water Resources by 5.7% in the 1st quarter. Water Asset Management LLC now owns 443,240 shares of the utilities provider’s stock valued at $3,976,000 after acquiring an additional 23,954 shares during the period. 19.51% of the stock is currently owned by hedge funds and other institutional investors.
GWRS has been the topic of a number of research analyst reports. Zacks Investment Research cut shares of Global Water Resources from a “buy” rating to a “hold” rating in a report on Tuesday, May 15th. TheStreet raised shares of Global Water Resources from a “d” rating to a “c-” rating in a report on Wednesday, May 9th.
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, 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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