Global Water Resources (NASDAQ:GWRS) Upgraded by Wall Street Zen to Hold Rating

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 note issued to investors on Saturday.

Global Water Resources Price Performance

Global Water Resources stock traded up $0.12 during trading hours on Friday, hitting $10.03. 42,200 shares of the company traded hands, compared to its average volume of 41,573. The firm has a market cap of $275.55 million, a P/E ratio of 45.59 and a beta of 1.04. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.54. The firm's 50-day simple moving average is $9.89 and its two-hundred day simple moving average is $10.26. Global Water Resources has a 1-year low of $9.27 and a 1-year high of $13.98.

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

Global Water Resources Announces Dividend

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

Hedge Funds Weigh In On Global Water Resources

Hedge funds have recently made changes to their positions in the business. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of Global Water Resources in the second quarter worth approximately $27,000. Tower Research Capital LLC TRC boosted its holdings in shares of Global Water Resources by 258.9% during the second quarter. Tower Research Capital LLC TRC now owns 3,898 shares of the utilities provider's stock worth $40,000 after purchasing an additional 2,812 shares during the period. Jane Street Group LLC acquired a new stake in shares of Global Water Resources during the first quarter worth approximately $109,000. Blair William & Co. IL acquired a new stake in shares of Global Water Resources during the first quarter worth approximately $113,000. Finally, Deutsche Bank AG boosted its holdings in shares of Global Water Resources by 4,273.8% during the fourth quarter. Deutsche Bank AG now owns 15,002 shares of the utilities provider's stock worth $173,000 after purchasing an additional 14,659 shares during the period. Institutional investors and hedge funds own 27.91% of the company's stock.

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.