Global Water Resources (NASDAQ:GWRS) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Global Water Resources (NASDAQ:GWRS) released its earnings results on Wednesday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01, FiscalAI reports. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The firm had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million.

Global Water Resources Stock Down 4.4%

Shares of GWRS stock traded down $0.31 on Wednesday, reaching $6.66. 171,127 shares of the stock were exchanged, compared to its average volume of 65,743. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54. The business’s 50 day moving average price is $7.53 and its 200 day moving average price is $8.42. The company has a market capitalization of $191.54 million, a price-to-earnings ratio of 66.61 and a beta of 0.92. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17.

Global Water Resources Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be given a dividend of $0.0253 per share. This represents a c) annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, May 15th. Global Water Resources’s payout ratio is 300.00%.

Analyst Ratings Changes

A number of research firms have issued reports on GWRS. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings downgraded Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $15.00.

Insiders Place Their Bets

In other Global Water Resources news, Director Andrew M. Cohn purchased 18,305 shares of the business’s stock in a transaction on Friday, March 13th. The shares were bought at an average cost of $7.20 per share, for a total transaction of $131,796.00. Following the completion of the purchase, the director directly owned 2,560,984 shares in the company, valued at approximately $18,439,084.80. This represents a 0.72% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 53.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GWRS. Barclays PLC grew its stake in Global Water Resources by 4.1% during the 4th quarter. Barclays PLC now owns 45,186 shares of the utilities provider’s stock worth $382,000 after buying an additional 1,784 shares during the last quarter. Rhumbline Advisers lifted its stake in 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 buying an additional 1,884 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Global Water Resources by 16.5% in the third quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 1,900 shares during the period. Russell Investments Group Ltd. grew its position in shares of Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,091 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of Global Water Resources by 120.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 2,601 shares during the period. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.