Consolidated Water (NASDAQ:CWCO) Announces Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Consolidated Water (NASDAQ:CWCO) posted its quarterly earnings data on Monday. The utilities provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05, Zacks reports. The business had revenue of $32.87 million during the quarter, compared to analysts’ expectations of $30.60 million. Consolidated Water had a return on equity of 7.81% and a net margin of 13.50%.

Consolidated Water Price Performance

CWCO stock traded up $1.89 during midday trading on Tuesday, reaching $32.13. 45,711 shares of the company’s stock traded hands, compared to its average volume of 115,925. Consolidated Water has a fifty-two week low of $28.17 and a fifty-two week high of $39.12. The business has a 50-day moving average price of $29.52 and a two-hundred day moving average price of $32.51. The company has a market capitalization of $514.02 million, a P/E ratio of 35.71 and a beta of 0.51.

Consolidated Water Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 1st were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Wednesday, July 1st. Consolidated Water’s dividend payout ratio is currently 62.22%.

Wall Street Analyst Weigh In

Several equities analysts have commented on CWCO shares. Weiss Ratings downgraded shares of Consolidated Water from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, July 7th. Wall Street Zen cut shares of Consolidated Water from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $40.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CWCO. Aquatic Capital Management LLC boosted its holdings in Consolidated Water by 2,243.8% in the 3rd quarter. Aquatic Capital Management LLC now owns 5,250 shares of the utilities provider’s stock valued at $185,000 after purchasing an additional 5,026 shares during the period. BNP Paribas Financial Markets increased its position in Consolidated Water by 39.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,476 shares of the utilities provider’s stock valued at $158,000 after buying an additional 1,268 shares in the last quarter. Intech Investment Management LLC bought a new stake in Consolidated Water in the 3rd quarter worth approximately $213,000. Raymond James Financial Inc. bought a new stake in Consolidated Water during the 2nd quarter valued at approximately $181,000. Finally, Quantbot Technologies LP bought a new stake in shares of Consolidated Water in the second quarter valued at about $112,000. 55.16% of the stock is currently owned by institutional investors.

About Consolidated Water

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.