Global Water Resources (NASDAQ:GWRS) Announces Quarterly Earnings Results

Global Water Resources (NASDAQ:GWRS) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02), FiscalAI reports. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The firm had revenue of $16.30 million for the quarter, compared to analysts’ expectations of $16.00 million.

Global Water Resources Stock Performance

Shares of Global Water Resources stock remained flat at $8.04 during trading on Tuesday. 35,930 shares of the stock were exchanged, compared to its average volume of 88,853. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. Global Water Resources has a 1-year low of $6.55 and a 1-year high of $10.50. The firm’s fifty day simple moving average is $8.34 and its two-hundred day simple moving average is $7.88. The firm has a market capitalization of $231.55 million, a P/E ratio of 73.10 and a beta of 0.95.

Global Water Resources Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be paid a $0.0253 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Monday, November 16th. Global Water Resources’s dividend payout ratio is 272.73%.

Insider Buying and Selling

In other news, Director Andrew Cohn acquired 139,343 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average cost of $8.85 per share, with a total value of $1,233,185.55. Following the completion of the acquisition, the director directly owned 2,701,350 shares in the company, valued at $23,906,947.50. This represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 53.70% of the company’s stock.

Wall Street Analysts Forecast Growth

GWRS has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.00.

About Global Water Resources

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.