Consolidated Water (NASDAQ:CWCO) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

Consolidated Water (NASDAQ:CWCO) issued its quarterly earnings results on Monday. The utilities provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08), Zacks reports. The business had revenue of $30.92 million during the quarter, compared to the consensus estimate of $32.10 million. Consolidated Water had a return on equity of 5.82% and a net margin of 10.49%.

Consolidated Water Stock Performance

CWCO traded down $0.66 during midday trading on Wednesday, hitting $25.57. The stock had a trading volume of 59,858 shares, compared to its average volume of 112,200. The company has a market cap of $409.30 million, a P/E ratio of 30.73 and a beta of 0.56. Consolidated Water has a 1 year low of $25.00 and a 1 year high of $39.12. The business has a fifty day moving average of $28.33 and a 200 day moving average of $31.27.

Consolidated Water Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Thursday, October 1st. Consolidated Water’s dividend payout ratio (DPR) is 67.47%.

Insider Activity

In other news, Director Raymond Whittaker sold 1,000 shares of the business’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $28.93, for a total transaction of $28,930.00. Following the sale, the director owned 2,038 shares in the company, valued at approximately $58,959.34. The trade was a 32.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.81% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Zacks Research raised shares of Consolidated Water from a “strong sell” rating to a “hold” rating in a report on Friday, August 28th. Weiss Ratings cut Consolidated Water from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

About Consolidated Water

Consolidated Water Co. Ltd. develops and operates water treatment and desalination facilities, with a focus on seawater reverse osmosis. The company produces and supplies potable water to public utilities and other customers, and provides engineering, procurement, construction and operating services for water projects. Founded in 1970, the company has a longstanding presence in the Caribbean. Its water operations include the Cayman Islands and the Bahamas, and it has also served customers in the British Virgin Islands.