Global Water Resources (NASDAQ:GWRS) Issues Quarterly Earnings Results, Misses Expectations By $0.04 EPS

by · The Cerbat Gem

Global Water Resources (NASDAQ:GWRS – Get Free Report) announced its quarterly earnings data on Wednesday. The utilities provider reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.04), FiscalAI reports. Global Water Resources had a return on equity of 4.73% and a net margin of 5.30%.The firm had revenue of $13.29 million during the quarter, compared to analysts’ expectations of $14.09 million.

Global Water Resources Trading Up 4.9%

Shares of GWRS traded up $0.33 during mid-day trading on Thursday, hitting $6.99. 63,697 shares of the company’s stock traded hands, compared to its average volume of 75,042. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.54. Global Water Resources has a 1 year low of $6.55 and a 1 year high of $11.17. The firm has a market capitalization of $200.92 million, a P/E ratio of 69.96 and a beta of 0.92. The business’s 50-day moving average price is $7.53 and its 200-day moving average price is $8.42.

Global Water Resources Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.0253 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) annualized dividend and a dividend yield of 4.4%. Global Water Resources’s payout ratio is 300.00%.

Insider Buying and Selling at Global Water Resources

In related news, Director Andrew M. Cohn bought 18,305 shares of the company’s stock in a transaction on Friday, March 13th. The shares were acquired at an average cost of $7.20 per share, with a total value of $131,796.00. Following the completion of the acquisition, the director owned 2,560,984 shares of the company’s stock, valued at $18,439,084.80. The trade was a 0.72% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 53.70% of the stock is owned by corporate insiders.

Institutional Trading of Global Water Resources

Hedge funds have recently bought and sold shares of the company. Millennium Management LLC bought a new position in Global Water Resources during the fourth quarter valued at approximately $153,000. Trexquant Investment LP purchased a new position in Global Water Resources during the 4th quarter worth $144,000. Group One Trading LLC purchased a new position in Global Water Resources during the 4th quarter worth $96,000. Alliancebernstein L.P. boosted its position in Global Water Resources by 16.5% during the 3rd quarter. Alliancebernstein L.P. now owns 13,440 shares of the utilities provider’s stock valued at $138,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in Global Water Resources by 63.6% during the 2nd quarter. Jane Street Group LLC now owns 17,359 shares of the utilities provider’s stock valued at $177,000 after acquiring an additional 6,749 shares in the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings cut shares of Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Freedom Capital lowered Global Water Resources from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $15.00.

Check Out Our Latest Stock Analysis on GWRS

Global Water Resources Company Profile

(Get Free Report)

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.

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