Consolidated Water Co. Ltd. (NASDAQ:CWCO) Announces Quarterly Dividend of $0.14

Consolidated Water Co. Ltd. (NASDAQ:CWCO) declared a quarterly dividend on Friday, June 5th. Shareholders of record on Wednesday, July 1st will be paid a dividend of 0.14 per share by the utilities provider on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Wednesday, July 1st.

Consolidated Water has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Consolidated Water has a payout ratio of 35.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Consolidated Water to earn $1.45 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 38.6%.

Consolidated Water Trading Down 0.5%

CWCO traded down $0.14 on Friday, hitting $29.92. 68,914 shares of the company’s stock were exchanged, compared to its average volume of 122,396. Consolidated Water has a fifty-two week low of $27.10 and a fifty-two week high of $39.12. The stock has a market cap of $478.72 million, a price-to-earnings ratio of 33.24 and a beta of 0.50. The firm has a 50-day moving average price of $32.03 and a 200-day moving average price of $34.42.

Consolidated Water (NASDAQ:CWCO) last posted its quarterly earnings results on Monday, May 11th. The utilities provider reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). Consolidated Water had a return on equity of 7.81% and a net margin of 13.50%.The business had revenue of $29.97 million during the quarter, compared to analysts’ expectations of $31.90 million. On average, equities analysts predict that Consolidated Water will post 0.97 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CWCO shares. Weiss Ratings cut Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, May 27th. Zacks Research cut Consolidated Water from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Finally, Wall Street Zen lowered Consolidated Water from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.