Consolidated Water Co. Ltd. (CWCO) Receives Consensus Recommendation of “Strong Buy” from Analysts
Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus price target of $16.50 for the company and are expecting that the company will post $0.15 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Consolidated Water an industry rank of 183 out of 255 based on the ratings given to its competitors.
Several analysts have issued reports on the company. Zacks Investment Research raised Consolidated Water from a “sell” rating to a “hold” rating in a research note on Wednesday, May 23rd. ValuEngine raised Consolidated Water from a “hold” rating to a “buy” rating in a research note on Friday, September 7th.
A number of hedge funds have recently made changes to their positions in CWCO. Amundi Pioneer Asset Management Inc. lifted its position in Consolidated Water by 45.7% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 1,082,078 shares of the utilities provider’s stock valued at $15,745,000 after purchasing an additional 339,655 shares during the last quarter. Renaissance Technologies LLC lifted its position in Consolidated Water by 41.1% in the second quarter. Renaissance Technologies LLC now owns 378,100 shares of the utilities provider’s stock valued at $4,877,000 after purchasing an additional 110,100 shares during the last quarter. BlackRock Inc. lifted its position in Consolidated Water by 9.8% in the second quarter. BlackRock Inc. now owns 802,044 shares of the utilities provider’s stock valued at $10,346,000 after purchasing an additional 71,379 shares during the last quarter. Northpointe Capital LLC lifted its position in Consolidated Water by 45.8% in the second quarter. Northpointe Capital LLC now owns 146,048 shares of the utilities provider’s stock valued at $1,884,000 after purchasing an additional 45,902 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Consolidated Water by 84.4% in the second quarter. Bank of America Corp DE now owns 50,595 shares of the utilities provider’s stock valued at $653,000 after purchasing an additional 23,159 shares during the last quarter. Hedge funds and other institutional investors own 53.88% of the company’s stock.
Shares of CWCO opened at $14.20 on Friday. The company has a market capitalization of $212.42 million, a price-to-earnings ratio of 28.98, a PEG ratio of 2.82 and a beta of 0.71. Consolidated Water has a 1 year low of $11.20 and a 1 year high of $15.35.
Consolidated Water (NASDAQ:CWCO) last issued its earnings results on Monday, August 13th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.01). The firm had revenue of $15.87 million during the quarter, compared to analysts’ expectations of $15.70 million. Consolidated Water had a return on equity of 5.38% and a net margin of 11.46%. equities analysts expect that Consolidated Water will post 0.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Shareholders of record on Monday, October 1st will be given a $0.085 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.34 annualized dividend and a yield of 2.39%. Consolidated Water’s payout ratio is currently 69.39%.
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.
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