Global Water Resources (NASDAQ:GWRS) Announces Quarterly Earnings Results

Global Water Resources (NASDAQ:GWRS) released its quarterly earnings data on Wednesday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01, FiscalAI reports. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The firm had revenue of $13.29 million during the quarter, compared to analyst estimates of $14.09 million.

Global Water Resources Price Performance

Shares of NASDAQ:GWRS traded down $0.31 during midday trading on Wednesday, reaching $6.66. The company’s stock had a trading volume of 171,127 shares, compared to its average volume of 65,743. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The company has a market capitalization of $191.54 million, a P/E ratio of 66.61 and a beta of 0.92. The company has a debt-to-equity ratio of 1.54, a current ratio of 0.76 and a quick ratio of 0.76. The business’s fifty day simple moving average is $7.53 and its 200-day simple moving average is $8.42.

Global Water Resources Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a $0.0253 dividend. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 4.6%. Global Water Resources’s dividend payout ratio (DPR) is 300.00%.

Insider Buying and Selling at Global Water Resources

In other Global Water Resources news, Director Andrew M. Cohn bought 18,305 shares of the stock in a transaction dated Friday, March 13th. The stock was bought at an average cost of $7.20 per share, for a total transaction of $131,796.00. Following the completion of the purchase, the director owned 2,560,984 shares in the company, valued at $18,439,084.80. This represents a 0.72% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 53.70% 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 business. Allworth Financial LP increased its stake in shares of Global Water Resources by 75,025.0% in the third quarter. Allworth Financial LP now owns 3,005 shares of the utilities provider’s stock valued at $31,000 after buying an additional 3,001 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Global Water Resources by 152.6% in 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. Tower Research Capital LLC TRC increased its stake in shares of Global Water Resources by 258.9% in the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider’s stock valued at $40,000 after buying an additional 2,812 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of Global Water Resources by 120.9% in the third quarter. BNP Paribas Financial Markets now owns 4,753 shares of the utilities provider’s stock valued at $49,000 after buying an additional 2,601 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in shares of Global Water Resources in the fourth quarter valued at $84,000. 27.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

GWRS has been the subject of several recent analyst reports. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a research note on Thursday, March 5th. Weiss Ratings lowered Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $15.00.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.