Global Water Resources, Inc. (GWRS) to Issue Monthly Dividend of $0.03 on December 30th

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Wednesday, November 26th. Stockholders of record on Tuesday, December 16th will be given a dividend of 0.0253 per share by the utilities provider on Tuesday, December 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Tuesday, December 16th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 8 years. Global Water Resources has a dividend payout ratio of 107.1% 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 $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Stock Down 2.3%

GWRS opened at $8.47 on Friday. The firm has a market cap of $243.51 million, a P/E ratio of 52.94 and a beta of 0.98. The business’s fifty day simple moving average is $9.56 and its 200 day simple moving average is $9.90. Global Water Resources has a 52 week low of $8.28 and a 52 week high of $12.57. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.42.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Wednesday, November 12th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02). The firm had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $15.20 million. Global Water Resources had a net margin of 7.87% and a return on equity of 6.84%. As a group, equities research analysts anticipate that Global Water Resources will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on GWRS shares. Weiss Ratings restated a “hold (c-)” rating on shares of Global Water Resources in a research report on Wednesday, October 8th. Roth Capital set a $15.00 price target on Global Water Resources in a research note on Monday, November 17th. Finally, Wall Street Zen downgraded Global Water Resources from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $15.00.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.