Global Water Resources (NASDAQ:GWRS) Announces Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Global Water Resources (NASDAQ:GWRS) posted its earnings results on Wednesday. The utilities provider reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05), FiscalAI reports. Global Water Resources had a return on equity of 6.84% and a net margin of 7.87%.The company had revenue of $13.54 million for the quarter, compared to analyst estimates of $13.73 million.

Global Water Resources Price Performance

Shares of GWRS stock traded up $0.09 on Wednesday, reaching $9.09. 33,099 shares of the company were exchanged, compared to its average volume of 55,290. Global Water Resources has a 1 year low of $8.28 and a 1 year high of $11.84. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50-day moving average price of $8.78 and a 200 day moving average price of $9.31. The company has a market cap of $261.34 million, a price-to-earnings ratio of 56.82 and a beta of 0.96.

Global Water Resources Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be given a $0.0253 dividend. The ex-dividend date is Tuesday, March 17th. This represents a c) annualized dividend and a dividend yield of 3.3%. Global Water Resources’s dividend payout ratio (DPR) is 187.50%.

Wall Street Analysts Forecast Growth

GWRS has been the topic of a number of analyst reports. Weiss Ratings cut shares of Global Water Resources from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, February 20th. Roth Mkm set a $15.00 price target on shares of Global Water Resources in a research report on Monday, November 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell” and a consensus price target of $15.00.

Institutional Investors Weigh In On Global Water Resources

Several large investors have recently bought and sold shares of the company. Occudo Quantitative Strategies LP acquired a new position in shares of Global Water Resources during the fourth quarter valued at approximately $107,000. Millennium Management LLC acquired a new position in Global Water Resources in the 4th quarter valued at $153,000. Bridgeway Capital Management LLC acquired a new position in Global Water Resources in the 4th quarter valued at $84,000. Trexquant Investment LP purchased a new position in Global Water Resources in the 4th quarter valued at $144,000. Finally, Royal Bank of Canada boosted its stake in Global Water Resources by 82.1% during the 4th quarter. Royal Bank of Canada now owns 27,492 shares of the utilities provider’s stock worth $232,000 after purchasing an additional 12,393 shares during the last quarter. 27.91% of the stock is currently owned by hedge funds and other institutional investors.

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.