Consolidated Water (NASDAQ:CWCO) Announces Quarterly Earnings Results

Consolidated Water (NASDAQ:CWCO) issued its quarterly earnings data on Monday. The utilities provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03), Zacks reports. Consolidated Water had a return on equity of 7.84% and a net margin of 13.50%.The company had revenue of $29.97 million during the quarter, compared to analysts’ expectations of $31.90 million.

Consolidated Water Stock Performance

Shares of CWCO traded down $0.53 on Wednesday, hitting $29.82. 59,769 shares of the stock traded hands, compared to its average volume of 125,712. The company has a market capitalization of $477.04 million, a PE ratio of 30.76 and a beta of 0.54. The business has a 50 day simple moving average of $33.65 and a 200 day simple moving average of $35.09. Consolidated Water has a one year low of $24.41 and a one year high of $39.12.

Consolidated Water Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, April 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.9%. Consolidated Water’s dividend payout ratio (DPR) is 57.73%.

Insider Buying and Selling at Consolidated Water

In other news, Director Maria Elena Giner purchased 3,310 shares of Consolidated Water stock in a transaction that occurred on Thursday, March 19th. The stock was bought at an average price of $30.24 per share, with a total value of $100,094.40. Following the completion of the transaction, the director directly owned 3,310 shares of the company’s stock, valued at approximately $100,094.40. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.25% of the stock is owned by company insiders.

Institutional Investors Weigh In On Consolidated Water

Several institutional investors and hedge funds have recently made changes to their positions in CWCO. AQR Capital Management LLC increased its position in shares of Consolidated Water by 41.7% during the first quarter. AQR Capital Management LLC now owns 46,480 shares of the utilities provider’s stock valued at $1,138,000 after acquiring an additional 13,686 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Consolidated Water by 6.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,418 shares of the utilities provider’s stock worth $304,000 after purchasing an additional 798 shares during the period. Goldman Sachs Group Inc. grew its position in Consolidated Water by 8.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 171,037 shares of the utilities provider’s stock worth $4,189,000 after purchasing an additional 13,061 shares during the period. Jane Street Group LLC bought a new stake in Consolidated Water in the 1st quarter worth approximately $230,000. Finally, Strs Ohio bought a new stake in Consolidated Water in the 1st quarter worth approximately $130,000. Institutional investors own 55.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Zacks Research downgraded shares of Consolidated Water from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Wall Street Zen raised shares of Consolidated Water from a “hold” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings downgraded shares of Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company 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.