Global Water Resources (GWRS) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Global Water Resources (NASDAQ:GWRS) from a sell rating to a hold rating in a research report report published on Friday.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

Other equities analysts have also issued research reports about the stock. ValuEngine upgraded shares of Global Water Resources from a hold rating to a buy rating in a research report on Thursday, September 27th. TheStreet lowered shares of Global Water Resources from a b- rating to a c+ rating in a research report on Monday, November 5th.

GWRS opened at $9.83 on Friday. The stock has a market cap of $211.06 million, a P/E ratio of 81.92, a P/E/G ratio of 4.10 and a beta of -0.09. The company has a debt-to-equity ratio of 3.89, a current ratio of 2.30 and a quick ratio of 2.30. Global Water Resources has a fifty-two week low of $8.40 and a fifty-two week high of $11.61.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Friday, November 9th. The utilities provider reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The company had revenue of $9.00 million for the quarter, compared to the consensus estimate of $8.90 million. Global Water Resources had a net margin of 16.95% and a return on equity of 19.57%. Analysts predict that Global Water Resources will post 0.17 earnings per share for the current year.

The business also recently declared a monthly dividend, which will be paid on Thursday, January 31st. Investors of record on Thursday, January 17th will be issued a $0.0239 dividend. This represents a $0.29 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 16th. Global Water Resources’s dividend payout ratio (DPR) is currently 233.33%.

A number of large investors have recently added to or reduced their stakes in GWRS. Renaissance Technologies LLC boosted its holdings in shares of Global Water Resources by 14.7% during the 2nd quarter. Renaissance Technologies LLC now owns 150,800 shares of the utilities provider’s stock valued at $1,418,000 after buying an additional 19,343 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Global Water Resources by 6.7% during the 2nd quarter. BlackRock Inc. now owns 480,313 shares of the utilities provider’s stock valued at $4,514,000 after buying an additional 30,230 shares in the last quarter. Trellus Management Company LLC bought a new stake in shares of Global Water Resources during the 3rd quarter valued at $265,000. Wasatch Advisors Inc. bought a new stake in shares of Global Water Resources during the 3rd quarter valued at $2,021,000. Finally, Advisors Asset Management Inc. boosted its holdings in shares of Global Water Resources by 21.2% during the 2nd quarter. Advisors Asset Management Inc. now owns 28,404 shares of the utilities provider’s stock valued at $267,000 after buying an additional 4,972 shares in the last quarter. Institutional investors and hedge funds own 29.37% 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, 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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