Global Water Resources (NASDAQ:GWRS) Issues Earnings Results

Key Points

• Global Water Resources earned $0.03 per share, missing the $0.05 consensus estimate, while quarterly revenue of $16.3 million exceeded the $16.0 million forecast.
• The company announced a monthly dividend of $0.0253 per share, equivalent to a 3.8% annualized yield; its reported payout ratio is 272.73%.
• Analysts’ consensus rating is Hold, with a $15 average price target. Director Andrew Cohn also purchased 139,343 shares at an average price of $8.85.

Global Water Resources (NASDAQ:GWRS - Get Free Report) released its quarterly earnings results on Tuesday. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $16.00 million.

Global Water Resources Price Performance

Shares of GWRS stock remained flat at $8.04 on Tuesday. 35,930 shares of the stock traded hands, compared to its average volume of 88,853. Global Water Resources has a 52 week low of $6.55 and a 52 week high of $10.50. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.68 and a current ratio of 0.68. The company's 50-day moving average is $8.34 and its 200 day moving average is $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 Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be issued a dividend of $0.0253 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Monday, November 16th. Global Water Resources's payout ratio is currently 272.73%.

Insider Activity

In related news, Director Andrew Cohn bought 139,343 shares of the company's stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $8.85 per share, for a total transaction of $1,233,185.55. Following the completion of the purchase, the director directly owned 2,701,350 shares in the company, valued at $23,906,947.50. The trade was a 5.44% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 53.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GWRS. Weiss Ratings upgraded 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 upgraded shares of Global Water Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $15.00.

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.

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