ValuEngine upgraded shares of Consolidated Water (NASDAQ:CWCO) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
Separately, Zacks Investment Research raised Consolidated Water from a hold rating to a buy rating and set a $15.00 target price on the stock in a report on Thursday, August 16th.
Shares of CWCO stock traded up $0.39 during trading hours on Friday, hitting $12.86. The stock had a trading volume of 80,587 shares, compared to its average volume of 26,156. Consolidated Water has a one year low of $11.70 and a one year high of $15.35. The stock has a market capitalization of $186.60 million, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 2.18 and a beta of 0.83.
Consolidated Water (NASDAQ:CWCO) last issued its earnings results on Friday, November 9th. The utilities provider reported $0.30 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.15. Consolidated Water had a return on equity of 5.80% and a net margin of 16.30%. The firm had revenue of $18.82 million for the quarter, compared to analysts’ expectations of $15.25 million. As a group, research analysts forecast that Consolidated Water will post 0.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Wednesday, January 2nd will be issued a $0.085 dividend. The ex-dividend date is Monday, December 31st. This represents a $0.34 annualized dividend and a dividend yield of 2.64%. Consolidated Water’s dividend payout ratio (DPR) is 69.39%.
Several hedge funds have recently modified their holdings of the company. Northpointe Capital LLC increased its stake in Consolidated Water by 89.5% during the third quarter. Northpointe Capital LLC now owns 276,739 shares of the utilities provider’s stock worth $3,833,000 after acquiring an additional 130,691 shares during the last quarter. Renaissance Technologies LLC increased its stake in Consolidated Water by 41.1% during the second quarter. Renaissance Technologies LLC now owns 378,100 shares of the utilities provider’s stock worth $4,877,000 after acquiring an additional 110,100 shares during the last quarter. Icon Advisers Inc. Co. bought a new stake in Consolidated Water during the third quarter worth approximately $1,102,000. Russell Investments Group Ltd. increased its stake in Consolidated Water by 95.2% during the third quarter. Russell Investments Group Ltd. now owns 146,769 shares of the utilities provider’s stock worth $2,032,000 after acquiring an additional 71,599 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Consolidated Water by 9.8% during the second quarter. BlackRock Inc. now owns 802,044 shares of the utilities provider’s stock worth $10,346,000 after acquiring an additional 71,379 shares during the last quarter. 54.57% of the stock is currently owned by hedge funds and other institutional investors.
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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