Global Water Resources, Inc. (NASDAQ:GWRS) Plans Monthly Dividend of $0.03

Global Water Resources, Inc. (NASDAQ:GWRS) announced a monthly dividend on Friday, July 31st. Stockholders of record on Monday, August 17th will be paid a dividend of 0.0253 per share by the utilities provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, August 17th.

Global Water Resources has decreased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Global Water Resources has a payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.11 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 272.7%.

Global Water Resources Trading Down 3.3%

GWRS opened at $8.60 on Friday. The business has a fifty day moving average price of $7.23 and a 200 day moving average price of $7.63. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.68 and a quick ratio of 0.68. Global Water Resources has a 12 month low of $6.55 and a 12 month high of $11.17. The stock has a market capitalization of $247.64 million, a price-to-earnings ratio of 78.19 and a beta of 0.91.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings data on Wednesday, August 12th. The utilities provider reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. Global Water Resources had a return on equity of 3.03% and a net margin of 5.22%.The business had revenue of $17.77 million during the quarter, compared to analysts’ expectations of $14.93 million. Sell-side analysts expect that Global Water Resources will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on GWRS. Weiss Ratings restated a “sell (d+)” rating on shares of Global Water Resources in a research note on Wednesday, May 20th. Wall Street Zen upgraded shares of Global Water Resources from a “sell” rating to a “hold” rating in a research note on Saturday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Global Water Resources currently has a consensus rating of “Reduce” and a consensus target price of $15.00.

About Global Water Resources

Global Water Resources, Inc (NASDAQ:GWRS) is a publicly traded holding company based in Scottsdale, Arizona, specializing in the ownership and management of water and wastewater utilities. The company provides critical potable water delivery, wastewater collection and treatment, and reclaimed water services to residential, commercial and industrial customers across select communities in Central and Southern Arizona.

The company operates multiple regulated utility systems, serving communities such as Anthem, Biltmore, Florence and San Tan Valley.