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

Global Water Resources (NASDAQ:GWRS) released its earnings results on Tuesday. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02), FiscalAI reports. Global Water Resources had a return on equity of 3.05% and a net margin of 5.22%. The firm had revenue of $16.30 million during the quarter, compared to the consensus estimate of $16.00 million.

Global Water Resources Price Performance

Global Water Resources stock remained flat at $8.04 during trading hours on Tuesday. 35,930 shares of the company’s stock traded hands, compared to its average volume of 88,853. The stock has a 50-day simple moving average of $8.34 and a 200-day simple moving average of $7.88. The company has a market cap of $231.55 million, a PE ratio of 73.10 and a beta of 0.95. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $10.50. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.68 and a quick ratio of 0.68.

Global Water Resources Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Monday, November 16th will be issued a dividend of $0.0253 per share. The ex-dividend date is Monday, November 16th. This represents a $0.30 annualized dividend and a dividend yield of 3.8%. Global Water Resources’s dividend payout ratio (DPR) is presently 272.73%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Weiss Ratings raised shares of Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 31st. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat, Global Water Resources currently has an average rating of “Hold” and an average price target of $15.00.

Insider Activity at Global Water Resources

In other Global Water Resources news, Director Andrew Cohn bought 139,343 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was acquired at an average price of $8.85 per share, with a total value of $1,233,185.55. Following the transaction, the director owned 2,701,350 shares in the company, valued at $23,906,947.50. This represents a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 53.70% of the company’s stock.

Global Water Resources Company Profile

Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities in Arizona. The company provides essential services to residential, commercial and industrial customers, including the delivery of potable water, collection and treatment of wastewater, and the production and distribution of recycled water.

Global Water Resources serves communities primarily in the Phoenix metropolitan area and other growing areas of central and southern Arizona.