Global Water Resources (NASDAQ:GWRS) Announces Earnings Results, Misses Expectations By $0.05 EPS

Global Water Resources (NASDAQ:GWRS) issued its quarterly 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 company had revenue of $13.54 million for the quarter, compared to analyst estimates of $13.73 million. Global Water Resources had a return on equity of 6.84% and a net margin of 7.87%.

Global Water Resources Stock Up 1.0%

Shares of NASDAQ GWRS opened at $9.09 on Thursday. The stock has a fifty day moving average price of $8.79 and a 200 day moving average price of $9.31. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.42. Global Water Resources has a 12-month low of $8.28 and a 12-month high of $11.84. The company has a market cap of $261.34 million, a P/E ratio of 56.82 and a beta of 0.96.

Global Water Resources Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 17th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 17th. Global Water Resources’s dividend payout ratio is currently 187.50%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Global Water Resources

A number of large investors have recently modified their holdings of the stock. Allworth Financial LP lifted its position in Global Water Resources by 75,025.0% during the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. grew its position in Global Water Resources by 152.6% in the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,812 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Global Water Resources by 120.9% during the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new position in shares of Global Water Resources during the fourth quarter worth $84,000. Institutional investors and hedge funds own 27.91% of the company’s stock.

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.