Consolidated Water (NASDAQ:CWCO) Issues Earnings Results

Consolidated Water (NASDAQ:CWCO) issued its quarterly earnings results on Monday. The utilities provider reported $0.34 EPS for the quarter, beating the consensus estimate of $0.24 by $0.10, Zacks reports. Consolidated Water had a net margin of 12.24% and a return on equity of 7.77%.

Consolidated Water Trading Down 0.7%

Shares of NASDAQ CWCO traded down $0.25 during mid-day trading on Monday, reaching $34.56. The company had a trading volume of 126,406 shares, compared to its average volume of 117,888. The firm has a 50 day simple moving average of $34.34 and a two-hundred day simple moving average of $30.63. Consolidated Water has a 52-week low of $22.69 and a 52-week high of $36.88. The stock has a market cap of $550.44 million, a P/E ratio of 36.77 and a beta of 0.51.

Consolidated Water Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were issued a $0.14 dividend. The ex-dividend date was Wednesday, October 1st. This represents a $0.56 annualized dividend and a dividend yield of 1.6%. Consolidated Water’s dividend payout ratio is presently 59.57%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CWCO. Wall Street Zen lowered Consolidated Water from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings raised Consolidated Water from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Wednesday, October 8th. Finally, Roth Capital boosted their price objective on Consolidated Water from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $40.00.

Insider Activity

In other news, Director Raymond Whittaker sold 4,755 shares of Consolidated Water stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $33.35, for a total transaction of $158,579.25. Following the sale, the director owned 1,000 shares in the company, valued at approximately $33,350. The trade was a 82.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.25% of the company’s stock.

Institutional Investors Weigh In On Consolidated Water

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC grew its position in shares of Consolidated Water by 335.7% during the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 1,165 shares during the last quarter. Quantbot Technologies LP acquired a new position in Consolidated Water in the second quarter valued at $112,000. Strs Ohio purchased a new stake in shares of Consolidated Water in the first quarter valued at about $130,000. Raymond James Financial Inc. acquired a new stake in shares of Consolidated Water during the second quarter worth about $181,000. Finally, Jane Street Group LLC purchased a new position in shares of Consolidated Water during the first quarter worth about $230,000. Hedge funds and other institutional investors own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd., together with its subsidiaries, designs, constructs, manages, and operates water production and water treatment plants primarily in the Cayman Islands, the Bahamas, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.