Global Water Resources (NASDAQ:GWRS) Issues Earnings Results

Global Water Resources (NASDAQ:GWRS) issued its earnings results on Wednesday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.01, FiscalAI reports. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The company had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $14.09 million.

Global Water Resources Trading Down 4.4%

Shares of Global Water Resources stock traded down $0.31 during trading hours on Wednesday, hitting $6.66. The company’s stock had a trading volume of 171,127 shares, compared to its average volume of 65,743. The stock has a market cap of $191.54 million, a price-to-earnings ratio of 66.61 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a quick ratio of 0.76 and a current ratio of 0.76. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17. The firm has a fifty day moving average of $7.53 and a 200-day moving average of $8.42.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Shareholders of record on Friday, May 15th will be given a $0.0253 dividend. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 4.6%. Global Water Resources’s payout ratio is currently 300.00%.

Insider Activity

In related news, Director Andrew M. Cohn acquired 18,305 shares of Global Water Resources stock in a transaction that occurred on Friday, March 13th. The shares were purchased at an average cost of $7.20 per share, for a total transaction of $131,796.00. Following the acquisition, the director owned 2,560,984 shares in the company, valued at approximately $18,439,084.80. This represents a 0.72% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 53.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its stake 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 holdings in shares of 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 purchasing an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Global Water Resources by 258.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after buying an additional 2,812 shares during the period. BNP Paribas Financial Markets increased its stake in Global Water Resources by 120.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock worth $49,000 after buying an additional 2,601 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Global Water Resources during the 4th quarter worth approximately $84,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Freedom Capital cut shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings downgraded shares of Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $15.00.

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.