Global Water Resources, Inc. (GWRS) to Issue Jun 25 Dividend of $0.03 on June 30th

Global Water Resources, Inc. (NASDAQ:GWRS) announced a jun 25 dividend on Friday, May 30th, RTT News reports. Investors of record on Monday, June 16th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, June 30th.

Global Water Resources has raised its dividend by an average of 1.0% annually over the last three years and has raised its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Price Performance

Shares of GWRS opened at $10.19 on Friday. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.63 and a current ratio of 1.62. Global Water Resources has a 52-week low of $9.37 and a 52-week high of $13.98. The business’s 50 day moving average price is $10.24 and its two-hundred day moving average price is $11.27. The firm has a market cap of $279.73 million, a PE ratio of 37.74, a price-to-earnings-growth ratio of 2.53 and a beta of 1.06.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, May 14th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $12.46 million during the quarter, compared to the consensus estimate of $12.00 million. Global Water Resources had a return on equity of 14.23% and a net margin of 12.52%. On average, equities analysts anticipate that Global Water Resources will post 0.28 EPS for the current year.

Insider Activity

In other news, Director Andrew M. Cohn acquired 252,000 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were acquired at an average cost of $10.00 per share, with a total value of $2,520,000.00. Following the acquisition, the director now directly owns 2,379,899 shares of the company’s stock, valued at approximately $23,798,990. The trade was a 11.84% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 54.30% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

A number of large investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in Global Water Resources by 20.1% during the first quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider’s stock valued at $1,062,000 after acquiring an additional 17,257 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Global Water Resources in the 1st quarter valued at $109,000. Finally, Rhumbline Advisers increased its holdings in Global Water Resources by 12.0% during the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock worth $181,000 after purchasing an additional 1,884 shares during the period. Institutional investors own 27.91% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Global Water Resources from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.