Global Water Resources Inc (NASDAQ:GWRS) declared a dividend on Wednesday, November 6th, Fidelity reports. Investors of record on Monday, December 16th will be paid a dividend of 0.0241 per share by the utilities provider on Monday, December 30th. The ex-dividend date is Friday, December 13th. This is a positive change from Global Water Resources’s previous dividend of $0.02.
Global Water Resources has raised its dividend by an average of 0.2% per year over the last three years and has increased its dividend annually for the last 2 consecutive years. Global Water Resources has a dividend payout ratio of 207.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.16 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 181.3%.
Shares of GWRS stock traded up $0.03 during trading on Wednesday, reaching $13.13. The company had a trading volume of 18,026 shares, compared to its average volume of 21,855. The firm’s 50 day simple moving average is $12.61 and its two-hundred day simple moving average is $11.66. The company has a debt-to-equity ratio of 4.35, a current ratio of 1.49 and a quick ratio of 1.49. Global Water Resources has a one year low of $9.00 and a one year high of $14.99. The company has a market capitalization of $282.99 million, a PE ratio of 87.53, a PEG ratio of 6.26 and a beta of 0.09.
GWRS has been the topic of a number of recent analyst reports. ValuEngine downgraded Global Water Resources from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. BidaskClub downgraded Global Water Resources from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research downgraded Global Water Resources from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th.
About Global Water Resources
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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