According to Zacks, “Consolidated Water Co. Ltd. intends to develop and operate seawater conversion plants and water distribution systems in areas of the world where naturally-occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The company has signed contracts for its first overseas operations in the Commonwealth of the Bahamas. (PRESS RELEASE) “
Consolidated Water (NASDAQ:CWCO) traded down 1.27% during trading on Monday, hitting $10.86. The stock had a trading volume of 9,689 shares. The stock’s 50-day moving average is $11.81 and its 200-day moving average is $12.88. The stock has a market capitalization of $160.89 million, a PE ratio of 21.05 and a beta of 0.91. Consolidated Water has a 52-week low of $10.23 and a 52-week high of $14.69.
Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Consolidated Water had a net margin of 13.29% and a return on equity of 5.01%. On average, analysts predict that Consolidated Water will post $0.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Monday, October 3rd will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $0.30 annualized dividend and a yield of 2.73%. Consolidated Water’s payout ratio is presently 57.69%.
In other Consolidated Water news, Director Richard Finlay acquired 10,000 shares of the business’s stock in a transaction on Wednesday, August 31st. The shares were bought at an average price of $12.73 per share, with a total value of $127,300.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 3.18% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in CWCO. Panagora Asset Management Inc. increased its position in shares of Consolidated Water by 29.9% in the second quarter. Panagora Asset Management Inc. now owns 54,594 shares of the company’s stock valued at $712,000 after buying an additional 12,551 shares during the period. TFS Capital LLC increased its position in shares of Consolidated Water by 76.0% in the second quarter. TFS Capital LLC now owns 119,050 shares of the company’s stock valued at $1,555,000 after buying an additional 51,418 shares during the period. Martingale Asset Management L P acquired a new position in shares of Consolidated Water during the second quarter valued at approximately $142,000. Uniplan Investment Counsel Inc. increased its position in shares of Consolidated Water by 5.9% in the second quarter. Uniplan Investment Counsel Inc. now owns 445,590 shares of the company’s stock valued at $5,819,000 after buying an additional 24,818 shares during the period. Finally, Globeflex Capital L P acquired a new position in shares of Consolidated Water during the second quarter valued at approximately $334,000. 45.54% of the stock is currently owned by institutional investors.
Consolidated Water Company Profile
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consolidated Water Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Water Co. and related companies with MarketBeat.com's FREE daily email newsletter.