Consolidated Water (NASDAQ:CWCO) Downgraded by Zacks Research to “Strong Sell”

Zacks Research downgraded shares of Consolidated Water (NASDAQ:CWCO) from a hold rating to a strong sell rating in a research note released on Thursday,Zacks reports.

A number of other equities research analysts have also weighed in on CWCO. Wall Street Zen lowered Consolidated Water from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings lowered Consolidated Water from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Consolidated Water presently has a consensus rating of “Reduce”.

Consolidated Water Stock Performance

Shares of CWCO stock traded down $0.39 on Thursday, hitting $24.90. 143,288 shares of the stock traded hands, compared to its average volume of 130,344. The firm’s 50-day moving average price is $28.11 and its two-hundred day moving average price is $31.08. Consolidated Water has a twelve month low of $24.86 and a twelve month high of $39.12. The stock has a market capitalization of $398.65 million, a PE ratio of 30.00 and a beta of 0.56.

Consolidated Water (NASDAQ:CWCO) last posted its earnings results on Monday, November 9th. The utilities provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.08). Consolidated Water had a net margin of 10.49% and a return on equity of 5.81%. The company had revenue of $30.92 million during the quarter, compared to analyst estimates of $32.10 million. On average, equities research analysts anticipate that Consolidated Water will post 0.87 EPS for the current fiscal year.

Consolidated Water Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 1st were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, October 1st. Consolidated Water’s dividend payout ratio (DPR) is presently 67.47%.

Insider Buying and Selling at Consolidated Water

In other news, Director Raymond Whittaker sold 1,000 shares of Consolidated Water stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $28.93, for a total transaction of $28,930.00. Following the sale, the director directly owned 2,038 shares of the company’s stock, valued at approximately $58,959.34. The trade was a 32.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.81% of the company’s stock.

Institutional Trading of Consolidated Water

Several hedge funds have recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in shares of Consolidated Water during the first quarter valued at approximately $91,000. Integrated Wealth Concepts LLC bought a new stake in shares of Consolidated Water during the 2nd quarter worth $92,000. Byrne Asset Management LLC boosted its position in shares of Consolidated Water by 1,674.7% in the 2nd quarter. Byrne Asset Management LLC now owns 5,324 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 5,024 shares during the period. Private Advisor Group LLC purchased a new position in Consolidated Water in the 1st quarter worth about $202,000. Finally, First Nebraska Trust Co acquired a new stake in Consolidated Water during the 3rd quarter worth about $236,000. 55.16% of the stock is currently owned by institutional investors.

About Consolidated Water

Consolidated Water Co. Ltd. develops and operates water treatment and desalination facilities, with a focus on seawater reverse osmosis. The company produces and supplies potable water to public utilities and other customers, and provides engineering, procurement, construction and operating services for water projects. Founded in 1970, the company has a longstanding presence in the Caribbean. Its water operations include the Cayman Islands and the Bahamas, and it has also served customers in the British Virgin Islands.