Consolidated Water (NASDAQ:CWCO) Issues Earnings Results, Beats Estimates By $0.05 EPS

Consolidated Water (NASDAQ:CWCO) issued its earnings results on Monday. The utilities provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05, Zacks reports. Consolidated Water had a net margin of 13.50% and a return on equity of 7.81%. The company had revenue of $32.87 million for the quarter, compared to the consensus estimate of $30.60 million.

Consolidated Water Price Performance

Shares of CWCO stock traded up $1.96 during trading hours on Tuesday, reaching $32.20. 40,754 shares of the stock were exchanged, compared to its average volume of 115,870. The firm has a market capitalization of $515.12 million, a P/E ratio of 35.24 and a beta of 0.51. The business’s fifty day moving average is $29.52 and its two-hundred day moving average is $32.51. Consolidated Water has a 12-month low of $28.17 and a 12-month high of $39.12.

Consolidated Water Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Wednesday, July 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 1st. Consolidated Water’s dividend payout ratio (DPR) is currently 62.22%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC boosted its holdings in Consolidated Water by 4.0% in the fourth quarter. Commonwealth Equity Services LLC now owns 10,961 shares of the utilities provider’s stock valued at $387,000 after purchasing an additional 422 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Consolidated Water by 3.5% in the third quarter. Mercer Global Advisors Inc. ADV now owns 17,121 shares of the utilities provider’s stock valued at $604,000 after acquiring an additional 571 shares in the last quarter. State of Wyoming boosted its stake in Consolidated Water by 6.0% during the 2nd quarter. State of Wyoming now owns 11,243 shares of the utilities provider’s stock valued at $338,000 after acquiring an additional 632 shares during the last quarter. Trexquant Investment LP increased its position in shares of Consolidated Water by 1.4% in the 4th quarter. Trexquant Investment LP now owns 47,162 shares of the utilities provider’s stock worth $1,664,000 after purchasing an additional 650 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in Consolidated Water by 3.1% during the 2nd quarter. Rhumbline Advisers now owns 22,088 shares of the utilities provider’s stock worth $663,000 after buying an additional 660 shares during the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CWCO shares. Wall Street Zen lowered shares of Consolidated Water from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings downgraded Consolidated Water from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.00.

Consolidated Water Company Profile

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.