Global Water Resources Inc (NASDAQ:GWRS) announced a — dividend on Friday, August 30th, Wall Street Journal reports. Investors of record on Monday, September 16th will be paid a dividend of 0.0239 per share by the utilities provider on Monday, September 30th. This represents a yield of 2.4%. The ex-dividend date of this dividend is Friday, September 13th.
Global Water Resources has a dividend payout ratio of 152.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Water Resources to earn $0.17 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 170.6%.
Shares of Global Water Resources stock opened at $12.08 on Wednesday. The firm has a 50-day simple moving average of $11.92 and a two-hundred day simple moving average of $10.45. The company has a debt-to-equity ratio of 4.28, a quick ratio of 1.73 and a current ratio of 1.73. Global Water Resources has a fifty-two week low of $9.00 and a fifty-two week high of $13.33. The company has a market cap of $259.95 million, a P/E ratio of 80.53, a price-to-earnings-growth ratio of 5.36 and a beta of 0.05.
Several brokerages have commented on GWRS. BidaskClub cut Global Water Resources from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 8th. TheStreet raised shares of Global Water Resources from a “c” rating to a “b-” rating in a research note on Thursday, August 8th. Finally, Zacks Investment Research downgraded shares of Global Water Resources from a “buy” rating to a “hold” rating in a research report on Monday, August 12th.
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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