Wall Street analysts expect that Consolidated Water Co. Ltd. (NASDAQ:CWCO) will announce $16.20 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Consolidated Water’s earnings, with the lowest sales estimate coming in at $16.00 million and the highest estimate coming in at $16.40 million. Consolidated Water posted sales of $17.67 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.3%. The firm is expected to report its next quarterly earnings results on Monday, November 15th.
On average, analysts expect that Consolidated Water will report full year sales of $66.40 million for the current fiscal year, with estimates ranging from $65.00 million to $67.80 million. For the next fiscal year, analysts expect that the company will post sales of $75.70 million, with estimates ranging from $74.00 million to $77.40 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Consolidated Water.
Consolidated Water (NASDAQ:CWCO) last released its earnings results on Sunday, August 15th. The utilities provider reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.18). The firm had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $17.75 million. Consolidated Water had a return on equity of 3.20% and a net margin of 1.91%.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 1st will be given a dividend of $0.085 per share. This represents a $0.34 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Thursday, September 30th. Consolidated Water’s payout ratio is presently 60.71%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in Consolidated Water by 46.5% during the first quarter. BNP Paribas Arbitrage SA now owns 7,779 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 2,468 shares in the last quarter. D.A. Davidson & CO. purchased a new position in Consolidated Water during the first quarter valued at approximately $135,000. Quadrature Capital Ltd acquired a new stake in Consolidated Water in the first quarter valued at approximately $155,000. PDT Partners LLC acquired a new stake in Consolidated Water in the first quarter valued at approximately $173,000. Finally, Commonwealth Equity Services LLC lifted its stake in Consolidated Water by 15.0% in the first quarter. Commonwealth Equity Services LLC now owns 14,798 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,932 shares during the last quarter. 42.64% of the stock is currently owned by hedge funds and other institutional investors.
Consolidated Water Company Profile
Consolidated Water Co Ltd. engages in the development and operation of seawater desalination plants and water distribution systems. It operates through the following segments: Retail, Bulk, Services, and Manufacturing. The Retail segment operates the water utility for the Seven Mile Beach and West Bay areas of Grand Cayman Islands.
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