Global Water Resources, Inc. (GWRS) to Distribute Monthly Dividend of $0.03 on August 31st

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, July 31st. Shareholders of record on Monday, August 17th will be given a dividend of 0.0253 per share by the utilities provider on Monday, August 31st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend is Monday, August 17th.

Global Water Resources has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 8 years. Global Water Resources has a payout ratio of 107.1% 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 research analysts expect Global Water Resources to earn $0.11 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 272.7%.

Global Water Resources Trading Down 3.3%

Shares of GWRS stock opened at $8.60 on Friday. Global Water Resources has a fifty-two week low of $6.55 and a fifty-two week high of $11.17. The stock has a market cap of $247.64 million, a P/E ratio of 78.19 and a beta of 0.91. The business has a fifty day simple moving average of $7.23 and a 200-day simple moving average of $7.63. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.59.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.01. Global Water Resources had a return on equity of 3.03% and a net margin of 5.22%.The business had revenue of $17.77 million during the quarter, compared to the consensus estimate of $14.93 million. On average, analysts forecast that Global Water Resources will post 0.08 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Weiss Ratings restated a “sell (d+)” rating on shares of Global Water Resources in a research report on Wednesday, May 20th. Wall Street Zen raised shares of Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $15.00.

Global Water Resources Company Profile

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.