Global Water Resources, Inc. (NASDAQ:GWRS) Shareholders to Receive $0.03 Monthly Dividend

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Tuesday, November 3rd. Stockholders of record on Monday, November 16th will be paid a dividend of $0.0253 per share by the utilities provider on Monday, November 30th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Monday, November 16th.

Global Water Resources has decreased its dividend payment by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 8 years. Global Water Resources has a 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. Analysts expect Global Water Resources to earn $0.13 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 230.8%.

Global Water Resources Stock Up 1.4%

GWRS stock opened at $8.15 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. The company has a market capitalization of $234.68 million, a price-to-earnings ratio of 101.89 and a beta of 0.96. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $10.50. The stock has a fifty day moving average of $8.29 and a 200-day moving average of $7.87.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Tuesday, November 3rd. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Global Water Resources had a net margin of 3.98% and a return on equity of 2.11%. The firm had revenue of $16.30 million during the quarter, compared to the consensus estimate of $16.00 million. As a group, equities research analysts predict that Global Water Resources will post 0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on GWRS shares. Wall Street Zen upgraded shares of Global Water Resources from a “sell” rating to a “hold” rating in a research report on Saturday, August 15th. Weiss Ratings raised shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Global Water Resources has a consensus rating of “Hold” and a consensus target price of $15.00.

About Global Water Resources

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.