Consolidated Water (NASDAQ:CWCO) Posts Earnings Results, Misses Expectations By $0.03 EPS

Consolidated Water (NASDAQ:CWCO) announced its quarterly earnings data on Monday. The utilities provider reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03), Zacks reports. The firm had revenue of $29.97 million during the quarter, compared to analyst estimates of $31.90 million. Consolidated Water had a net margin of 13.50% and a return on equity of 7.84%.

Consolidated Water Stock Down 7.7%

Shares of CWCO stock opened at $30.34 on Wednesday. The stock has a market cap of $485.44 million, a P/E ratio of 31.28 and a beta of 0.54. Consolidated Water has a fifty-two week low of $24.33 and a fifty-two week high of $39.12. The business has a fifty day simple moving average of $33.65 and a 200-day simple moving average of $35.09.

Consolidated Water Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Wednesday, April 1st were issued a $0.14 dividend. The ex-dividend date was Wednesday, April 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.8%. Consolidated Water’s dividend payout ratio is currently 57.73%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Consolidated Water from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 31st. Wall Street Zen upgraded Consolidated Water from a “hold” rating to a “buy” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings cut Consolidated Water from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $40.00.

Insider Transactions at Consolidated Water

In related news, Director Maria Elena Giner purchased 3,310 shares of the company’s stock in a transaction on Thursday, March 19th. The stock was bought at an average price of $30.24 per share, with a total value of $100,094.40. Following the completion of the transaction, the director owned 3,310 shares of the company’s stock, valued at approximately $100,094.40. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.25% of the company’s stock.

Institutional Trading of Consolidated Water

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CWCO. Jane Street Group LLC purchased a new position in Consolidated Water in the first quarter valued at about $230,000. Intech Investment Management LLC acquired a new position in shares of Consolidated Water in the third quarter worth about $213,000. Aquatic Capital Management LLC boosted its stake in shares of Consolidated Water by 2,243.8% during the 3rd quarter. Aquatic Capital Management LLC now owns 5,250 shares of the utilities provider’s stock valued at $185,000 after buying an additional 5,026 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Consolidated Water during the 2nd quarter worth $181,000. Finally, BNP Paribas Financial Markets increased its holdings in Consolidated Water by 39.5% in the third quarter. BNP Paribas Financial Markets now owns 4,476 shares of the utilities provider’s stock valued at $158,000 after buying an additional 1,268 shares during the last quarter. Hedge funds and other institutional investors own 55.16% of the company’s stock.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.