Global Water Resources (NASDAQ:GWRS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Global Water Resources (NASDAQ:GWRS) released its quarterly earnings data on Wednesday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01, FiscalAI reports. The company had revenue of $13.29 million for the quarter, compared to analysts’ expectations of $14.09 million. Global Water Resources had a net margin of 3.53% and a return on equity of 3.53%.

Global Water Resources Stock Down 3.6%

Shares of NASDAQ:GWRS traded down $0.25 during mid-day trading on Friday, hitting $6.71. 51,598 shares of the company traded hands, compared to its average volume of 75,443. The stock has a 50-day moving average price of $7.49 and a two-hundred day moving average price of $8.40. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17. The stock has a market cap of $192.98 million, a P/E ratio of 95.86 and a beta of 0.92. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.54.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be issued a $0.0253 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, May 15th. Global Water Resources’s dividend payout ratio (DPR) is currently 300.00%.

Insiders Place Their Bets

In other news, Director Andrew M. Cohn bought 18,305 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was acquired at an average cost of $7.20 per share, with a total value of $131,796.00. Following the completion of the transaction, the director directly owned 2,560,984 shares of the company’s stock, valued at $18,439,084.80. This represents a 0.72% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 53.70% of the company’s stock.

Institutional Trading of Global Water Resources

Hedge funds and other institutional investors have recently modified their holdings of the business. Allworth Financial LP grew its stake in Global Water Resources by 75,025.0% in the 3rd quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after buying an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 2,091 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Global Water Resources by 258.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 2,812 shares during the period. BNP Paribas Financial Markets grew its position in shares of Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC purchased a new position in shares of Global Water Resources in the fourth quarter valued at $84,000. Institutional investors own 27.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Weiss Ratings lowered Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, February 20th. Freedom Capital lowered shares of Global Water Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $15.00.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.