Zacks Investment Research upgraded shares of Consolidated Water (NASDAQ:CWCO) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

According to Zacks, “Shares of Consolidated Water have outperformed its industry's rally in the past 12 months. Consolidated Water’s first-quarter earnings were better than estimates by a penny, owing to the strong performance of desalination business. The company is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, the Bahamas and Belize. However, Consolidated Water carries the risk of failure to renew long-term contracts with major customers. In addition, negative foreign exchange fluctuation could adversely impact performance. Fluctuation in weather conditions and risks of contamination of its processed water are other headwinds.”

Other analysts have also issued research reports about the company. ValuEngine raised Consolidated Water from a hold rating to a buy rating in a research report on Sunday, May 13th. Roth Capital set a $17.00 target price on Consolidated Water and gave the company a buy rating in a research report on Friday, March 23rd.

Shares of Consolidated Water opened at $13.05 on Wednesday, according to Marketbeat Ratings. The company has a market capitalization of $195.21 million, a price-to-earnings ratio of 22.89, a PEG ratio of 2.87 and a beta of 0.62. Consolidated Water has a 52-week low of $11.20 and a 52-week high of $15.35.

Consolidated Water (NASDAQ:CWCO) last announced its earnings results on Friday, May 11th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $15.34 million during the quarter, compared to analysts’ expectations of $17.30 million. Consolidated Water had a net margin of 9.05% and a return on equity of 5.46%. equities research analysts expect that Consolidated Water will post 0.65 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 30th. Stockholders of record on Monday, April 2nd were given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, March 29th. Consolidated Water’s dividend payout ratio is currently 69.39%.

Several institutional investors have recently bought and sold shares of CWCO. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Consolidated Water during the fourth quarter worth $9,355,000. LSV Asset Management increased its position in shares of Consolidated Water by 31.7% during the fourth quarter. LSV Asset Management now owns 454,627 shares of the utilities provider’s stock worth $5,728,000 after acquiring an additional 109,327 shares during the period. Fairpointe Capital LLC purchased a new stake in shares of Consolidated Water during the fourth quarter worth $822,000. BlackRock Inc. increased its position in shares of Consolidated Water by 7.8% during the first quarter. BlackRock Inc. now owns 730,665 shares of the utilities provider’s stock worth $10,631,000 after acquiring an additional 53,169 shares during the period. Finally, First Manhattan Co. increased its position in shares of Consolidated Water by 7.0% during the fourth quarter. First Manhattan Co. now owns 804,513 shares of the utilities provider’s stock worth $10,136,000 after acquiring an additional 52,600 shares during the period. 54.86% of the stock is currently owned by institutional investors and hedge funds.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.

Get a free copy of the Zacks research report on Consolidated Water (CWCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Consolidated Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Water and related companies with MarketBeat.com's FREE daily email newsletter.