Global Water Resources (NASDAQ:GWRS) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen lowered shares of Global Water Resources (NASDAQ:GWRS) from a hold rating to a sell rating in a research note issued to investors on Friday morning.

Separately, Weiss Ratings reissued a “hold (c-)” rating on shares of Global Water Resources in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Global Water Resources currently has a consensus rating of “Hold”.

Global Water Resources Stock Performance

NASDAQ:GWRS opened at $10.04 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09. The business has a fifty day simple moving average of $9.85 and a two-hundred day simple moving average of $10.16. Global Water Resources has a 1 year low of $9.27 and a 1 year high of $13.98. The company has a market capitalization of $275.83 million, a P/E ratio of 45.64 and a beta of 1.06.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.The business had revenue of $14.24 million during the quarter, compared to the consensus estimate of $14.20 million. On average, analysts expect that Global Water Resources will post 0.28 earnings per share for the current year.

Global Water Resources Dividend Announcement

The business also recently declared a oct 25 dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 17th will be issued a $0.0253 dividend. This represents a dividend yield of 295.0%. The ex-dividend date of this dividend is Friday, October 17th. Global Water Resources’s dividend payout ratio (DPR) is presently 136.36%.

Hedge Funds Weigh In On Global Water Resources

Large investors have recently made changes to their positions in the stock. Heartland Advisors Inc. bought a new stake in Global Water Resources during the first quarter valued at $4,640,000. Redmond Asset Management LLC boosted its stake in Global Water Resources by 144.3% during the second quarter. Redmond Asset Management LLC now owns 328,587 shares of the utilities provider’s stock valued at $3,348,000 after buying an additional 194,091 shares during the period. Handelsbanken Fonder AB boosted its stake in Global Water Resources by 11.3% during the first quarter. Handelsbanken Fonder AB now owns 1,525,000 shares of the utilities provider’s stock valued at $15,723,000 after buying an additional 155,000 shares during the period. North Star Investment Management Corp. boosted its stake in Global Water Resources by 46.3% during the first quarter. North Star Investment Management Corp. now owns 342,593 shares of the utilities provider’s stock valued at $3,532,000 after buying an additional 108,500 shares during the period. Finally, Los Angeles Capital Management LLC boosted its stake in Global Water Resources by 222.7% during the second quarter. Los Angeles Capital Management LLC now owns 51,286 shares of the utilities provider’s stock valued at $523,000 after buying an additional 35,395 shares during the period. 27.91% of the stock is owned by institutional investors.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.