Global Water Resources, Inc. (NASDAQ:GWRS - Free Report) - Roth Capital decreased their Q1 2024 earnings estimates for shares of Global Water Resources in a report issued on Wednesday, May 1st. Roth Capital analyst G. Sweeney now forecasts that the utilities provider will earn $0.01 per share for the quarter, down from their prior estimate of $0.03. The consensus estimate for Global Water Resources' current full-year earnings is $0.31 per share. Roth Capital also issued estimates for Global Water Resources' Q3 2024 earnings at $0.12 EPS.
Global Water Resources Stock Performance
NASDAQ:GWRS traded up $0.30 during trading hours on Thursday, reaching $12.77. 15,324 shares of the company's stock were exchanged, compared to its average volume of 24,832. The firm has a market capitalization of $308.65 million, a price-to-earnings ratio of 38.70, a P/E/G ratio of 2.63 and a beta of 0.98. The company has a 50-day moving average of $12.54 and a 200 day moving average of $12.14. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.16. Global Water Resources has a 1-year low of $9.34 and a 1-year high of $13.43.
Global Water Resources (NASDAQ:GWRS - Get Free Report) last issued its earnings results on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The business had revenue of $12.37 million during the quarter, compared to analysts' expectations of $12.00 million. Global Water Resources had a net margin of 15.05% and a return on equity of 13.64%. During the same quarter in the prior year, the business posted $0.04 EPS.
Global Water Resources Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a yield of 2.35%. Global Water Resources's payout ratio is currently 90.91%.
Hedge Funds Weigh In On Global Water Resources
A number of large investors have recently bought and sold shares of GWRS. CWM LLC raised its position in Global Water Resources by 18.2% during the 4th quarter. CWM LLC now owns 12,766 shares of the utilities provider's stock worth $167,000 after buying an additional 1,970 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Global Water Resources in the 4th quarter valued at about $423,000. Manchester Capital Management LLC increased its holdings in shares of Global Water Resources by 70.7% in the 4th quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider's stock valued at $642,000 after purchasing an additional 20,325 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Global Water Resources by 36.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 80,150 shares of the utilities provider's stock valued at $781,000 after purchasing an additional 21,276 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in shares of Global Water Resources by 23.5% in the 4th quarter. North Star Investment Management Corp. now owns 202,793 shares of the utilities provider's stock valued at $2,653,000 after purchasing an additional 38,558 shares in the last quarter. Hedge funds and other institutional investors own 27.91% of the company's stock.
About Global Water Resources
(
Get Free Report)
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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