Global Water Resources Inc. (GWRS) Forecasted to Earn FY2016 Earnings of ($0.13) Per Share
Global Water Resources Inc. (NASDAQ:GWRS) – Equities research analysts at Roth Capital lifted their FY2016 earnings estimates for shares of Global Water Resources in a report released on Wednesday. Roth Capital analyst G. Sweeney now anticipates that the brokerage will post earnings per share of ($0.13) for the year, up from their prior estimate of ($0.15). Roth Capital currently has a “Buy” rating and a $10.50 target price on the stock. Roth Capital also issued estimates for Global Water Resources’ FY2017 earnings at $0.14 EPS.
Separately, Zacks Investment Research raised Global Water Resources from a “sell” rating to a “hold” rating in a research note on Monday, September 12th.
Shares of Global Water Resources (NASDAQ:GWRS) traded up 1.00% on Friday, reaching $8.10. The company had a trading volume of 15,544 shares. Global Water Resources has a 52 week low of $6.23 and a 52 week high of $9.18. The company has a market capitalization of $155.29 million and a P/E ratio of 8.33. The company has a 50 day moving average of $7.78 and a 200-day moving average of $7.87.
Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Monday, November 14th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.02. The firm earned $8.20 million during the quarter, compared to analysts’ expectations of $8.10 million. Global Water Resources had a positive return on equity of 3.75% and a negative net margin of 9.40%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. increased its stake in shares of 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 worth $344,000 after buying an additional 781 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Global Water Resources during the second quarter worth about $132,000. Connors Investor Services Inc. acquired a new stake in shares of Global Water Resources during the second quarter worth about $220,000. Spark Investment Management LLC acquired a new stake in shares of Global Water Resources during the second quarter worth about $231,000. Finally, Royal Bank of Canada acquired a new stake in shares of Global Water Resources during the second quarter worth about $244,000. Hedge funds and other institutional investors own 16.42% of the company’s stock.
In related news, Director William S. Levine bought 10,917 shares of the firm’s stock in a transaction that occurred on Friday, September 30th. The stock was purchased at an average cost of $7.82 per share, for a total transaction of $85,370.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William S. Levine bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was bought at an average price of $7.93 per share, with a total value of $79,300.00. The disclosure for this purchase can be found here.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Thursday, December 15th will be paid a $0.0225 dividend. The ex-dividend date of this dividend is Tuesday, December 13th. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. This represents a $0.27 dividend on an annualized basis and a dividend yield of 3.37%.
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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