Global Water Resources (NASDAQ:GWRS) Announces Quarterly Earnings Results

Global Water Resources (NASDAQ:GWRS) released its earnings results on Wednesday. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05), FiscalAI reports. The firm had revenue of $13.54 million during the quarter, compared to analyst estimates of $13.73 million. Global Water Resources had a net margin of 5.30% and a return on equity of 4.81%.

Global Water Resources Stock Down 13.9%

Shares of NASDAQ GWRS opened at $7.83 on Friday. Global Water Resources has a 52-week low of $7.72 and a 52-week high of $11.84. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $225.11 million, a P/E ratio of 78.31 and a beta of 0.96. The firm has a 50 day moving average price of $8.77 and a 200 day moving average price of $9.30.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be paid a dividend of $0.0253 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a c) annualized dividend and a yield of 3.9%. Global Water Resources’s dividend payout ratio (DPR) is presently 300.00%.

Institutional Trading of Global Water Resources

Several hedge funds have recently added to or reduced their stakes in the business. Heartland Advisors Inc. lifted its holdings in Global Water Resources by 52.6% during the fourth quarter. Heartland Advisors Inc. now owns 686,500 shares of the utilities provider’s stock worth $5,801,000 after acquiring an additional 236,500 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Global Water Resources by 3.3% during the fourth quarter. Geode Capital Management LLC now owns 312,753 shares of the utilities provider’s stock worth $2,643,000 after purchasing an additional 10,076 shares during the period. State Street Corp lifted its holdings in shares of Global Water Resources by 3.4% during the 4th quarter. State Street Corp now owns 240,100 shares of the utilities provider’s stock valued at $2,029,000 after purchasing an additional 7,922 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Global Water Resources by 3.1% during the 4th quarter. Wells Fargo & Company MN now owns 218,814 shares of the utilities provider’s stock valued at $1,849,000 after purchasing an additional 6,588 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Global Water Resources by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 151,153 shares of the utilities provider’s stock valued at $1,557,000 after purchasing an additional 3,082 shares during the period. Institutional investors and hedge funds own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings downgraded shares of Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. Roth Mkm set a $15.00 price objective on shares of Global Water Resources in a research note on Monday, November 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Global Water Resources has an average rating of “Sell” and a consensus target price of $15.00.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.