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

Key Points

• Global Water Resources reported quarterly earnings of $0.06 EPS, meeting analysts' estimates with a net margin of 10.63% and a return on equity of 11.27%.
• The company declared a dividend of $0.0253 per share, with a significant yield of 310.0%, although the payout ratio stands at 130.43%.
• In the stock market, Global Water Resources saw a trading increase of 1.9%, reaching $10.28, while institutional ownership is currently at 27.91%.

Global Water Resources (NASDAQ:GWRS - Get Free Report) issued its quarterly earnings data on Wednesday. The utilities provider reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06, Zacks reports. Global Water Resources had a net margin of 10.63% and a return on equity of 11.27%.

Global Water Resources Trading Up 1.9%

NASDAQ:GWRS traded up $0.19 during midday trading on Wednesday, reaching $10.28. 118,671 shares of the stock traded hands, compared to its average volume of 46,915. The company has a fifty day moving average of $10.23 and a 200 day moving average of $10.56. Global Water Resources has a 12 month low of $9.37 and a 12 month high of $13.98. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market capitalization of $282.20 million, a P/E ratio of 44.70, a PEG ratio of 3.06 and a beta of 1.05.

Global Water Resources Dividend Announcement

The company also recently declared a aug 25 dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a dividend of $0.0253 per share. This represents a yield of 310.0%. The ex-dividend date is Friday, August 15th. Global Water Resources's dividend payout ratio is currently 130.43%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC bought a new position in shares of Global Water Resources in the 1st quarter worth about $109,000. Rhumbline Advisers increased its stake in shares of Global Water Resources by 12.0% in the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider's stock worth $181,000 after acquiring an additional 1,884 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Global Water Resources by 20.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 103,024 shares of the utilities provider's stock worth $1,062,000 after acquiring an additional 17,257 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Global Water Resources by 10.3% in the 2nd quarter. Geode Capital Management LLC now owns 299,330 shares of the utilities provider's stock worth $3,050,000 after acquiring an additional 27,850 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Global Water Resources from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

About Global Water Resources

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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