Global Water Resources, Inc. (NASDAQ:GWRS) to Issue $0.03 Monthly Dividend

Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Friday, May 29th. Shareholders of record on Monday, June 15th will be paid a dividend of 0.0253 per share by the utilities provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, June 15th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year 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% 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 $0.11 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 272.7%.

Global Water Resources Trading Down 1.5%

Shares of NASDAQ:GWRS opened at $7.29 on Friday. Global Water Resources has a 12-month low of $6.55 and a 12-month high of $11.17. The company has a market capitalization of $209.69 million, a PE ratio of 104.14 and a beta of 0.92. The business has a 50 day moving average of $7.36 and a two-hundred day moving average of $8.18. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.59.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, May 13th. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.01. Global Water Resources had a return on equity of 3.53% and a net margin of 3.53%.The company had revenue of $13.29 million during the quarter, compared to the consensus estimate of $14.09 million. As a group, analysts forecast that Global Water Resources will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on GWRS shares. Freedom Capital cut Global Water Resources from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus 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.