Consolidated Water Co. (CWCO) Announces Quarterly Earnings Results, Misses Expectations By $0.29 EPS
Consolidated Water Co. (NASDAQ:CWCO) posted its earnings results on Thursday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.16 by $0.29. The company had revenue of $5.45 million for the quarter, compared to analyst estimates of $16.10 million. Consolidated Water had a return on equity of 5.01% and a net margin of 13.29%.
Shares of Consolidated Water (NASDAQ:CWCO) opened at 12.15 on Thursday. The firm has a market capitalization of $180.00 million, a price-to-earnings ratio of 23.55 and a beta of 0.78. Consolidated Water has a one year low of $10.23 and a one year high of $14.69. The firm has a 50-day moving average price of $11.26 and a 200 day moving average price of $12.70.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 3rd were issued a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 2.47%. The ex-dividend date was Thursday, September 29th. Consolidated Water’s payout ratio is currently 57.69%.
Separately, Zacks Investment Research raised Consolidated Water from a “sell” rating to a “hold” rating in a report on Thursday, August 25th.
In other Consolidated Water news, Director Richard Finlay purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was bought at an average cost of $12.73 per share, with a total value of $127,300.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.18% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CWCO. TFS Capital LLC increased its stake in shares of Consolidated Water by 76.0% in the second quarter. TFS Capital LLC now owns 119,050 shares of the company’s stock worth $1,555,000 after buying an additional 51,418 shares during the period. BlackRock Fund Advisors increased its stake in shares of Consolidated Water by 9.3% in the third quarter. BlackRock Fund Advisors now owns 405,797 shares of the company’s stock worth $4,715,000 after buying an additional 34,650 shares during the period. Globeflex Capital L P acquired a new stake in shares of Consolidated Water during the second quarter worth about $334,000. Panagora Asset Management Inc. increased its stake in shares of Consolidated Water by 29.9% in the second quarter. Panagora Asset Management Inc. now owns 54,594 shares of the company’s stock worth $712,000 after buying an additional 12,551 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in shares of Consolidated Water during the second quarter worth about $142,000. 45.59% of the stock is owned by institutional investors.
About Consolidated Water
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
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