Consolidated Water Co. (CWCO) Announces Quarterly Earnings Results, Misses Expectations By $0.29 EPS
Consolidated Water Co. (NASDAQ:CWCO) announced its quarterly earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.29. Consolidated Water had a return on equity of 5.01% and a net margin of 13.29%. The business earned $5.45 million during the quarter, compared to the consensus estimate of $16.10 million.
Consolidated Water (NASDAQ:CWCO) opened at 12.15 on Thursday. Consolidated Water has a 52-week low of $10.23 and a 52-week high of $14.69. The firm’s 50-day moving average is $11.26 and its 200-day moving average is $12.70. The company has a market cap of $180.00 million, a PE ratio of 23.55 and a beta of 0.78.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 31st. Shareholders of record on Monday, October 3rd were given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date was Thursday, September 29th. Consolidated Water’s dividend payout ratio (DPR) is 57.69%.
In other news, Director Richard Finlay acquired 10,000 shares of the company’s stock in a transaction dated Wednesday, August 31st. The shares were acquired at an average price of $12.73 per share, with a total value of $127,300.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.18% of the company’s stock.
Several large investors have recently modified their holdings of CWCO. Martingale Asset Management L P acquired a new position in shares of Consolidated Water during the second quarter worth about $142,000. Rhumbline Advisers raised its position in shares of Consolidated Water by 0.6% in the third quarter. Rhumbline Advisers now owns 19,602 shares of the company’s stock worth $228,000 after buying an additional 110 shares during the period. Vanguard Group Inc. raised its position in shares of Consolidated Water by 4.1% in the second quarter. Vanguard Group Inc. now owns 24,370 shares of the company’s stock worth $318,000 after buying an additional 949 shares during the period. Globeflex Capital L P acquired a new position in shares of Consolidated Water during the second quarter worth about $334,000. Finally, California State Teachers Retirement System raised its position in shares of Consolidated Water by 0.3% in the third quarter. California State Teachers Retirement System now owns 30,793 shares of the company’s stock worth $358,000 after buying an additional 100 shares during the period. 45.59% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of Consolidated Water from a “sell” rating to a “hold” rating in a research report on Monday, October 17th.
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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