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

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Monday, August 31st. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.0253 per share by the utilities provider on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, September 16th.

Global Water Resources has decreased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% 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 $0.13 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 230.8%.

Global Water Resources Stock Down 2.8%

Shares of NASDAQ GWRS opened at $8.93 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. Global Water Resources has a 52 week low of $6.55 and a 52 week high of $11.17. The stock has a market capitalization of $257.14 million, a P/E ratio of 81.19 and a beta of 0.91. The stock’s fifty day moving average is $7.73 and its 200 day moving average is $7.65.

Global Water Resources (NASDAQ:GWRS) last posted its quarterly earnings data on Thursday, August 13th. The utilities provider reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. Global Water Resources had a net margin of 5.22% and a return on equity of 3.05%. The business had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $14.93 million. Sell-side analysts forecast that Global Water Resources will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Wall Street Zen upgraded Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $15.00.

About Global Water Resources

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.