Global Water Resources (NASDAQ:GWRS) Releases Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Global Water Resources (NASDAQ:GWRS) released its quarterly earnings data on Wednesday. The utilities provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.05), FiscalAI reports. Global Water Resources had a net margin of 7.87% and a return on equity of 6.84%. The firm had revenue of $13.54 million during the quarter, compared to the consensus estimate of $13.73 million.

Global Water Resources Stock Performance

Global Water Resources stock traded up $0.09 during trading hours on Wednesday, hitting $9.09. 33,099 shares of the stock traded hands, compared to its average volume of 55,290. The firm’s 50 day moving average price is $8.78 and its 200-day moving average price is $9.31. The company has a debt-to-equity ratio of 1.42, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market capitalization of $261.34 million, a price-to-earnings ratio of 56.82 and a beta of 0.96. Global Water Resources has a 1 year low of $8.28 and a 1 year high of $11.84.

Global Water Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.0253 per share. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Tuesday, March 17th. Global Water Resources’s payout ratio is presently 187.50%.

Analyst Ratings Changes

A number of brokerages recently weighed in on GWRS. Weiss Ratings cut Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Roth Mkm set a $15.00 target price on shares of Global Water Resources in a report on Monday, November 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Global Water Resources currently has an average rating of “Sell” and an average price target of $15.00.

Institutional Investors Weigh In On Global Water Resources

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its position 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 buying an additional 3,001 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 2,091 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 2,812 shares during the period. BNP Paribas Financial Markets lifted its position in Global Water Resources by 120.9% during the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares during the period. Finally, Bridgeway Capital Management LLC purchased a new stake in Global Water Resources in the fourth quarter valued at $84,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

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.