Global Water Resources (NASDAQ:GWRS) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Global Water Resources (NASDAQ:GWRS) announced its earnings results on Tuesday. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01), FiscalAI reports. Global Water Resources had a return on equity of 2.11% and a net margin of 3.98%. The business had revenue of $16.30 million for the quarter, compared to analysts’ expectations of $16.00 million.

Global Water Resources Stock Performance

Global Water Resources stock traded down $0.30 during trading hours on Thursday, reaching $7.85. 49,852 shares of the stock were exchanged, compared to its average volume of 88,591. The stock has a market cap of $225.93 million, a P/E ratio of 98.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. Global Water Resources has a 52-week low of $6.55 and a 52-week high of $10.50. The firm’s 50 day moving average is $8.29 and its 200 day moving average is $7.87.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a $0.0253 dividend. This represents a $0.30 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, November 16th. Global Water Resources’s payout ratio is currently 375.00%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Global Water Resources

In other news, Director Andrew Cohn bought 139,343 shares of the stock in a transaction dated Thursday, August 20th. The shares were acquired at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the completion of the acquisition, the director directly owned 2,701,350 shares in the company, valued at approximately $23,906,947.50. The trade was a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 53.70% of the stock is currently owned by insiders.

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.