Global Water Resources, Inc. (GWRS) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Shares of Global Water Resources, Inc. (NASDAQ:GWRS) have been assigned an average broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price target of $11.00 for the company and are anticipating that the company will post $0.04 EPS for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 64 out of 265 based on the ratings given to its competitors.
A number of analysts have recently issued reports on the stock. Roth Capital set a $11.00 target price on shares of Global Water Resources and gave the stock a “buy” rating in a research note on Saturday, May 27th. Zacks Investment Research raised shares of Global Water Resources from a “strong sell” rating to a “hold” rating in a report on Monday, July 17th.
Shares of Global Water Resources (GWRS) traded up 0.52% on Monday, hitting $9.75. The company had a trading volume of 14,567 shares. The company has a market cap of $191.16 million, a price-to-earnings ratio of 118.90 and a beta of 0.31. Global Water Resources has a 12-month low of $7.50 and a 12-month high of $10.00. The company has a 50 day moving average of $9.55 and a 200-day moving average of $9.12.
Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by $0.02. The firm had revenue of $8.15 million during the quarter, compared to analyst estimates of $7.90 million. Global Water Resources had a net margin of 5.05% and a return on equity of 10.46%. On average, analysts forecast that Global Water Resources will post $0.09 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a dividend of $0.023 per share. The ex-dividend date is Tuesday, August 15th. This represents a $0.28 annualized dividend and a yield of 2.85%. Global Water Resources’s dividend payout ratio is presently 350.04%.
In other news, Director L Rita Theil sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $9.23, for a total value of $230,750.00. Following the transaction, the director now owns 2,666 shares in the company, valued at approximately $24,607.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 49.20% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GWRS. North Star Investment Management Corp. raised its stake in shares of Global Water Resources by 5.6% in the first quarter. North Star Investment Management Corp. now owns 93,775 shares of the utilities provider’s stock worth $816,000 after buying an additional 5,000 shares during the period. Bank of New York Mellon Corp raised its stake in Global Water Resources by 2.1% in the first quarter. Bank of New York Mellon Corp now owns 146,341 shares of the utilities provider’s stock valued at $1,274,000 after buying an additional 3,077 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in Global Water Resources during the second quarter valued at about $773,000. HighTower Advisors LLC purchased a new stake in Global Water Resources during the first quarter valued at about $171,000. Finally, Bard Associates Inc. raised its stake in Global Water Resources by 8.7% in the first quarter. Bard Associates Inc. now owns 201,325 shares of the utilities provider’s stock valued at $1,752,000 after buying an additional 16,100 shares during the last quarter. Institutional investors own 17.04% of the company’s stock.
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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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