Global Water Resources, Inc. (GWRS) Given Consensus Recommendation of “Strong Buy” by Analysts

Global Water Resources, Inc. (NASDAQ:GWRS) has been given a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.

Brokers have set a 12-month consensus price objective of $11.00 for the company and are forecasting that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 163 out of 265 based on the ratings given to related companies.

A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. Roth Capital set a $11.00 target price on shares of Global Water Resources and gave the company a “buy” rating in a research note on Wednesday, August 9th.

Shares of Global Water Resources (GWRS) traded up 0.94% on Monday, reaching $9.70. The company had a trading volume of 1,570 shares. The stock has a 50-day moving average price of $9.55 and a 200-day moving average price of $9.12. The stock has a market cap of $190.18 million, a PE ratio of 118.29 and a beta of 0.31. Global Water Resources has a 12 month low of $7.50 and a 12 month high of $10.00.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Tuesday, August 8th. The utilities provider reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by $0.02. Global Water Resources had a net margin of 5.05% and a return on equity of 10.46%. The business had revenue of $8.15 million for the quarter, compared to the consensus estimate of $7.90 million. Analysts predict that Global Water Resources will post $0.09 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.023 per share. This represents a $0.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, August 15th. Global Water Resources’s dividend payout ratio (DPR) is currently 350.04%.

In related news, Director L Rita Theil sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $9.23, for a total transaction of $230,750.00. Following the completion of the sale, the director now owns 2,666 shares of the company’s stock, valued at $24,607.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 49.20% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Global Water Resources by 35.4% in the second quarter. Vanguard Group Inc. now owns 340,929 shares of the utilities provider’s stock valued at $3,376,000 after buying an additional 89,201 shares in the last quarter. Bard Associates Inc. boosted its stake in shares of Global Water Resources by 1.0% in the second quarter. Bard Associates Inc. now owns 203,325 shares of the utilities provider’s stock valued at $2,013,000 after buying an additional 2,000 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Global Water Resources by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 155,622 shares of the utilities provider’s stock valued at $1,541,000 after buying an additional 9,281 shares in the last quarter. North Star Investment Management Corp. boosted its stake in shares of Global Water Resources by 11.2% in the second quarter. North Star Investment Management Corp. now owns 104,275 shares of the utilities provider’s stock valued at $1,032,000 after buying an additional 10,500 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Global Water Resources by 15.8% in the second quarter. State Street Corp now owns 100,674 shares of the utilities provider’s stock valued at $997,000 after buying an additional 13,733 shares in the last quarter. 17.04% of the stock is owned by institutional investors.

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About Global Water Resources

Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.

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