Global Water Resources Inc (NASDAQ:GWRS) announced a monthly dividend on Monday, June 3rd, Wall Street Journal reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.0239 per share by the utilities provider on Friday, June 28th. This represents a $0.29 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Thursday, June 13th.
Global Water Resources has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.18 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 161.1%.
NASDAQ GWRS remained flat at $$10.09 during trading hours on Wednesday. The company’s stock had a trading volume of 264 shares, compared to its average volume of 17,654. Global Water Resources has a fifty-two week low of $8.82 and a fifty-two week high of $11.61. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 4.24. The company has a market cap of $215.09 million, a P/E ratio of 67.27, a P/E/G ratio of 4.37 and a beta of -0.13.
Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.02. The business had revenue of $7.72 million for the quarter, compared to analysts’ expectations of $8.30 million. Global Water Resources had a return on equity of 13.74% and a net margin of 9.58%. On average, equities research analysts predict that Global Water Resources will post 0.15 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Global Water Resources from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 8th.
In other Global Water Resources news, Director Debra Coy acquired 2,600 shares of the stock in a transaction dated Friday, March 29th. The stock was purchased at an average price of $9.90 per share, with a total value of $25,740.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 45.70% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in Global Water Resources stock. Geode Capital Management LLC raised its stake in Global Water Resources Inc (NASDAQ:GWRS) by 11.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,907 shares of the utilities provider’s stock after acquiring an additional 4,999 shares during the period. Geode Capital Management LLC owned 0.22% of Global Water Resources worth $485,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 29.58% of the stock is currently owned by institutional investors.
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About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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