Global Water Resources (NASDAQ:GWRS) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Global Water Resources (NASDAQ:GWRS) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), FiscalAI reports. The business had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.20 million. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.

Global Water Resources Stock Performance

Shares of NASDAQ:GWRS opened at $9.90 on Thursday. The business has a fifty day moving average of $10.18 and a 200-day moving average of $10.17. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.09 and a current ratio of 1.09. Global Water Resources has a twelve month low of $9.27 and a twelve month high of $13.68. The firm has a market cap of $271.98 million, a PE ratio of 45.00 and a beta of 1.07.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Wednesday, November 12th will be paid a dividend of $0.0253 per share. This represents a c) annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Wednesday, November 12th. Global Water Resources’s dividend payout ratio is currently 136.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GWRS shares. Wall Street Zen downgraded Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Weiss Ratings restated a “hold (c-)” rating on shares of Global Water Resources in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Global Water Resources presently has a consensus rating of “Hold”.

Insider Buying and Selling

In other Global Water Resources news, Director Andrew M. Cohn acquired 154,026 shares of Global Water Resources stock in a transaction on Tuesday, September 30th. The shares were purchased at an average cost of $10.30 per share, with a total value of $1,586,467.80. Following the completion of the purchase, the director owned 2,540,908 shares in the company, valued at $26,171,352.40. The trade was a 6.45% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 54.30% of the company’s stock.

Hedge Funds Weigh In On Global Water Resources

Several institutional investors have recently modified their holdings of GWRS. Rhumbline Advisers lifted its holdings in shares of Global Water Resources by 12.0% in the first quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 1,884 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of 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 worth $40,000 after buying an additional 2,812 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Global Water Resources by 2.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 151,153 shares of the utilities provider’s stock valued at $1,557,000 after buying an additional 3,082 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Global Water Resources by 28.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 25,879 shares of the utilities provider’s stock valued at $267,000 after acquiring an additional 5,698 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Global Water Resources by 63.6% during the 2nd quarter. Jane Street Group LLC now owns 17,359 shares of the utilities provider’s stock worth $177,000 after acquiring an additional 6,749 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.