Consolidated Water (NASDAQ:CWCO) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Consolidated Water (NASDAQ: CWCO) from “hold” to “sell.” Despite the downgrade, MarketBeat reports a consensus “hold” rating, with two analysts rating the stock Hold.
• The company missed quarterly expectations, reporting earnings of $0.15 per share versus $0.23 expected and revenue of $30.92 million versus $32.10 million expected.
• CWCO shares opened at $24.90, near their one-year low of $24.86; the stock was down 1.5% according to the article.

Consolidated Water (NASDAQ:CWCO - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday, Wall Street Zen reports.

CWCO has been the subject of a number of other reports. Zacks Research upgraded shares of Consolidated Water from a "strong sell" rating to a "hold" rating in a research note on Friday, August 28th. Weiss Ratings cut shares of Consolidated Water from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Consolidated Water Stock Down 1.5%

Consolidated Water stock opened at $24.90 on Friday. Consolidated Water has a one year low of $24.86 and a one year high of $39.12. The business's fifty day moving average is $28.11 and its 200 day moving average is $31.08.

Consolidated Water (NASDAQ:CWCO - Get Free Report) last issued its earnings results on Monday, November 9th. The utilities provider reported $0.15 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.08). The business had revenue of $30.92 million during the quarter, compared to analysts' expectations of $32.10 million. Consolidated Water had a return on equity of 5.81% and a net margin of 10.49%. As a group, research analysts anticipate that Consolidated Water will post 0.87 EPS for the current year.

Insider Activity

In other Consolidated Water news, Director Raymond Whittaker sold 1,000 shares of the business's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $28.93, for a total transaction of $28,930.00. Following the completion of the sale, the director directly owned 2,038 shares in the company, valued at $58,959.34. The trade was a 32.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Consolidated Water

A number of institutional investors and hedge funds have recently made changes to their positions in CWCO. Heartland Advisors Inc. grew its position in Consolidated Water by 4.3% during the third quarter. Heartland Advisors Inc. now owns 311,200 shares of the utilities provider's stock valued at $8,720,000 after buying an additional 12,750 shares during the period. Russell Investments Group Ltd. raised its position in Consolidated Water by 4.6% in the third quarter. Russell Investments Group Ltd. now owns 31,460 shares of the utilities provider's stock worth $882,000 after acquiring an additional 1,390 shares during the period. American Institute for Advanced Investment Management LLP raised its position in Consolidated Water by 5.3% in the third quarter. American Institute for Advanced Investment Management LLP now owns 8,735 shares of the utilities provider's stock worth $245,000 after acquiring an additional 440 shares during the period. Commonwealth Equity Services LLC raised its position in Consolidated Water by 65.2% in the third quarter. Commonwealth Equity Services LLC now owns 18,591 shares of the utilities provider's stock worth $521,000 after acquiring an additional 7,338 shares during the period. Finally, First Nebraska Trust Co purchased a new position in shares of Consolidated Water during the 3rd quarter worth $236,000. Hedge funds and other institutional investors own 55.16% of the company's stock.

Consolidated Water Company Profile

Consolidated Water Co. Ltd. develops and operates water treatment and desalination facilities, with a focus on seawater reverse osmosis. The company produces and supplies potable water to public utilities and other customers, and provides engineering, procurement, construction and operating services for water projects. Founded in 1970, the company has a longstanding presence in the Caribbean. Its water operations include the Cayman Islands and the Bahamas, and it has also served customers in the British Virgin Islands.

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