Global Water Resources (NASDAQ:GWRS) Releases Earnings Results, Misses Expectations By $0.01 EPS

Global Water Resources (NASDAQ:GWRS) released its quarterly earnings results on Tuesday. The utilities provider reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01), FiscalAI reports. The business had revenue of $16.30 million during the quarter, compared to analyst estimates of $16.00 million. Global Water Resources had a net margin of 3.98% and a return on equity of 2.11%.

Global Water Resources Price Performance

Shares of NASDAQ GWRS opened at $8.25 on Thursday. The business has a fifty day moving average price of $8.29 and a two-hundred day moving average price of $7.87. The stock has a market capitalization of $237.62 million, a PE ratio of 103.56 and a beta of 0.96. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.68. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $10.50.

Global Water Resources Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be paid a $0.0253 dividend. The ex-dividend date is Monday, November 16th. This represents a $0.30 annualized dividend and a yield of 3.7%. Global Water Resources’s payout ratio is 375.00%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on GWRS shares. Weiss Ratings raised Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Wall Street Zen raised Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

Insider Activity at Global Water Resources

In related news, Director Andrew Cohn acquired 139,343 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was acquired at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the transaction, the director directly owned 2,701,350 shares in the company, valued at $23,906,947.50. This trade represents a 5.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 53.70% of the company’s stock.

About Global Water Resources

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.