Global Water Resources (NASDAQ:GWRS) Releases Earnings Results, Misses Expectations By $0.02 EPS

Global Water Resources (NASDAQ:GWRS) announced its quarterly earnings data on Wednesday. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), FiscalAI reports. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.The business had revenue of $15.52 million for the quarter, compared to analyst estimates of $15.20 million.

Global Water Resources Price Performance

Shares of NASDAQ GWRS opened at $9.11 on Friday. The business has a 50-day moving average of $10.17 and a 200-day moving average of $10.16. The company has a market capitalization of $250.28 million, a price-to-earnings ratio of 41.41 and a beta of 1.07. Global Water Resources has a 1-year low of $9.09 and a 1-year high of $13.68. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.09.

Global Water Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, November 26th. Investors of record on Wednesday, November 12th will be issued a $0.0253 dividend. This represents a c) annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, November 12th. Global Water Resources’s dividend payout ratio is currently 136.36%.

Insider Activity

In other Global Water Resources news, Director Andrew M. Cohn purchased 154,026 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were acquired at an average price of $10.30 per share, for a total transaction of $1,586,467.80. Following the completion of the purchase, the director owned 2,540,908 shares in the company, valued at $26,171,352.40. The trade was a 6.45% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 54.30% of the company’s stock.

Institutional Trading of Global Water Resources

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its stake in shares of Global Water Resources by 120.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,601 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Global Water Resources by 152.6% during the third quarter. Russell Investments Group Ltd. now owns 3,461 shares of the utilities provider’s stock valued at $36,000 after buying an additional 2,091 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Global Water Resources by 2.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 151,153 shares of the utilities provider’s stock worth $1,557,000 after buying an additional 3,082 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Global Water Resources by 28.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 25,879 shares of the utilities provider’s stock worth $267,000 after acquiring an additional 5,698 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Global Water Resources by 258.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 2,812 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on GWRS shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Global Water Resources in a report on Wednesday, October 8th. Wall Street Zen cut Global Water Resources from a “hold” rating to a “sell” rating in a research report on Friday, October 3rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Global Water Resources has an average rating of “Hold”.

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.