Global Water Resources (NASDAQ:GWRS) Downgraded to “Sell” Rating by Wall Street Zen

Wall Street Zen lowered shares of Global Water Resources (NASDAQ:GWRS) from a hold rating to a sell rating in a report released on Saturday morning.

Global Water Resources Stock Up 0.1%

Shares of NASDAQ GWRS opened at $9.87 on Friday. The stock has a market capitalization of $271.13 million, a PE ratio of 44.87, a P/E/G ratio of 3.06 and a beta of 1.05. Global Water Resources has a one year low of $9.37 and a one year high of $13.98. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09. The business’s fifty day moving average price is $10.21 and its 200-day moving average price is $10.50.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings results on Wednesday, August 13th. The utilities provider reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. The firm had revenue of $14.24 million during the quarter, compared to analyst estimates of $14.20 million. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%. On average, equities research analysts anticipate that Global Water Resources will post 0.28 EPS for the current year.

Global Water Resources Announces Dividend

The business also recently disclosed a aug 25 dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.0253 dividend. This represents a dividend yield of 310.0%. The ex-dividend date is Friday, August 15th. Global Water Resources’s dividend payout ratio is 136.36%.

Institutional Investors Weigh In On Global Water Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN increased its stake in Global Water Resources by 0.5% in the fourth quarter. Wells Fargo & Company MN now owns 211,216 shares of the utilities provider’s stock valued at $2,429,000 after acquiring an additional 1,130 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Global Water Resources by 7.0% in the 4th quarter. Ameriprise Financial Inc. now owns 20,210 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 1,327 shares during the period. Barclays PLC increased its stake in shares of Global Water Resources by 5.3% in the fourth quarter. Barclays PLC now owns 33,347 shares of the utilities provider’s stock worth $384,000 after buying an additional 1,684 shares during the period. Rhumbline Advisers raised its stake in shares of Global Water Resources by 12.0% during the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after acquiring an additional 1,884 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey bought a new position in Global Water Resources during the 2nd quarter valued at approximately $27,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

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.