Global Water Resources Inc. (GWRS) Releases Earnings Results, Beats Estimates By $0.02 EPS
Global Water Resources Inc. (NASDAQ:GWRS) released its quarterly earnings results on Monday. The company reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.02. The firm earned $8.20 million during the quarter, compared to the consensus estimate of $8.10 million.
Shares of Global Water Resources (NASDAQ:GWRS) opened at 7.80 on Tuesday. The firm has a market cap of $149.54 million and a P/E ratio of 8.02. Global Water Resources has a 52 week low of $6.23 and a 52 week high of $9.18. The stock has a 50 day moving average of $7.78 and a 200 day moving average of $7.86.
The business also recently disclosed a monthly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Wednesday, November 16th will be paid a $0.022 dividend. The ex-dividend date of this dividend is Monday, November 14th. This represents a $0.26 annualized dividend and a dividend yield of 3.38%.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Global Water Resources from a “sell” rating to a “hold” rating in a research note on Thursday, August 25th. Roth Capital restated a “buy” rating and issued a $10.50 price objective on shares of Global Water Resources in a research note on Monday, August 15th.
In related news, Director William S. Levine bought 10,000 shares of Global Water Resources stock in a transaction dated Tuesday, October 11th. The shares were bought at an average cost of $7.81 per share, with a total value of $78,100.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William S. Levine bought 10,917 shares of Global Water Resources stock in a transaction dated Friday, September 30th. The shares were bought at an average cost of $7.82 per share, for a total transaction of $85,370.94. The disclosure for this purchase can be found here.
Several hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp raised its stake in Global Water Resources by 426.2% in the third quarter. Northern Trust Corp now owns 74,443 shares of the company’s stock valued at $597,000 after buying an additional 60,297 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Global Water Resources by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 42,900 shares of the company’s stock valued at $344,000 after buying an additional 781 shares during the period. State Street Corp bought a new stake in Global Water Resources during the second quarter valued at about $456,000. Spark Investment Management LLC bought a new stake in Global Water Resources during the second quarter valued at about $231,000. Finally, WFG Advisors LP bought a new stake in Global Water Resources during the second quarter valued at about $325,000. 16.42% of the stock is currently owned by institutional investors.
Global Water Resources Company Profile
Global Water Resources, Inc is a water resource management company. The Company owns, operates and manages water, wastewater and recycled water utilities in strategically located communities, principally in metropolitan Phoenix, Arizona. The Company focuses on the issues of water supply and scarcity, and applies principles of water conservation through water reclamation and reuse.
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