Global Water Resources (NASDAQ:GWRS) Raised to "Hold" at Wall Street Zen

Key Points

• Global Water Resources has been upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen.
• The company's stock is currently priced at $9.86, with a market cap of approximately $270.88 million and a price-to-earnings ratio of 44.82.
• In the latest quarterly report, Global Water Resources posted earnings of $0.06 per share, matching analysts' expectations, with revenues slightly exceeding estimates at $14.24 million.

Wall Street Zen upgraded shares of Global Water Resources (NASDAQ:GWRS - Free Report) from a sell rating to a hold rating in a research report sent to investors on Saturday.

Global Water Resources Price Performance

Shares of Global Water Resources stock traded down $0.21 during trading on Friday, reaching $9.74. The company's stock had a trading volume of 64,947 shares, compared to its average volume of 46,742. The stock has a 50-day moving average price of $9.93 and a two-hundred day moving average price of $10.27. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.54. Global Water Resources has a one year low of $9.27 and a one year high of $13.98. The stock has a market capitalization of $267.59 million, a P/E ratio of 44.27 and a beta of 1.04.

Global Water Resources (NASDAQ:GWRS - Get Free Report) last released its quarterly earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%.The business had revenue of $14.24 million during the quarter, compared to analysts' expectations of $14.20 million. As a group, sell-side analysts anticipate that Global Water Resources will post 0.28 EPS for the current fiscal year.

Global Water Resources Dividend Announcement

The firm also recently declared a sep 25 dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.0253 dividend. This represents a dividend yield of 312.0%. The ex-dividend date of this dividend is Tuesday, September 16th. Global Water Resources's payout ratio is currently 136.36%.

Institutional Trading of Global Water Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in GWRS. Heartland Advisors Inc. bought a new stake in Global Water Resources during the 1st quarter worth about $4,640,000. Redmond Asset Management LLC raised its holdings in Global Water Resources by 144.3% during the 2nd quarter. Redmond Asset Management LLC now owns 328,587 shares of the utilities provider's stock worth $3,348,000 after purchasing an additional 194,091 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Global Water Resources by 11.3% during the 1st quarter. Handelsbanken Fonder AB now owns 1,525,000 shares of the utilities provider's stock worth $15,723,000 after purchasing an additional 155,000 shares during the last quarter. North Star Investment Management Corp. raised its holdings in Global Water Resources by 46.3% during the 1st quarter. North Star Investment Management Corp. now owns 342,593 shares of the utilities provider's stock worth $3,532,000 after purchasing an additional 108,500 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Global Water Resources by 222.7% during the 2nd quarter. Los Angeles Capital Management LLC now owns 51,286 shares of the utilities provider's stock worth $523,000 after purchasing an additional 35,395 shares during the last quarter. 27.91% of the stock is owned by institutional investors.

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.