BidaskClub Upgrades Global Water Resources (NASDAQ:GWRS) to Strong-Buy

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BidaskClub upgraded shares of Global Water Resources (NASDAQ:GWRS) from a buy rating to a strong-buy rating in a report published on Friday, BidAskClub reports.

Separately, Zacks Investment Research cut Global Water Resources from a buy rating to a hold rating in a research report on Thursday, July 11th.

Shares of NASDAQ GWRS opened at $11.71 on Friday. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 4.24. Global Water Resources has a 52 week low of $9.00 and a 52 week high of $13.33. The company has a market capitalization of $283.16 million and a PE ratio of 78.07. The stock has a fifty day moving average of $11.17.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. Global Water Resources had a return on equity of 13.74% and a net margin of 9.58%. The company had revenue of $7.72 million for the quarter, compared to analysts’ expectations of $8.30 million. Research analysts anticipate that Global Water Resources will post 0.15 earnings per share for the current year.

The firm also recently announced a monthly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th were given a $0.024 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, July 16th. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. Global Water Resources’s payout ratio is currently 193.33%.

A number of institutional investors have recently added to or reduced their stakes in GWRS. Handelsinvest Investeringsforvaltning grew its position in Global Water Resources by 99.9% in the first quarter. Handelsinvest Investeringsforvaltning now owns 87,849 shares of the utilities provider’s stock valued at $862,000 after acquiring an additional 43,900 shares during the last quarter. Granite Investment Partners LLC grew its position in Global Water Resources by 87.8% in the first quarter. Granite Investment Partners LLC now owns 77,156 shares of the utilities provider’s stock valued at $757,000 after acquiring an additional 36,066 shares during the last quarter. Clear Harbor Asset Management LLC bought a new position in Global Water Resources in the first quarter valued at about $245,000. SG Americas Securities LLC bought a new position in Global Water Resources in the first quarter valued at about $110,000. Finally, Kennedy Capital Management Inc. grew its position in Global Water Resources by 3.5% in the first quarter. Kennedy Capital Management Inc. now owns 179,558 shares of the utilities provider’s stock valued at $1,761,000 after acquiring an additional 6,078 shares during the last quarter. Hedge funds and other institutional investors own 28.19% 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 utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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