Consolidated Water (NASDAQ:CWCO) Posts Quarterly Earnings Results, Misses Estimates By $0.08 EPS

Consolidated Water (NASDAQ:CWCO) released its earnings results on Monday. The utilities provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.08), Zacks reports. The business had revenue of $30.92 million for the quarter, compared to the consensus estimate of $32.10 million. Consolidated Water had a net margin of 12.66% and a return on equity of 7.23%.

Consolidated Water Stock Performance

CWCO stock opened at $27.65 on Tuesday. The firm’s 50-day moving average price is $28.40 and its two-hundred day moving average price is $31.32. Consolidated Water has a 12-month low of $26.40 and a 12-month high of $39.12.

Consolidated Water Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 1st were given a $0.14 dividend. The ex-dividend date was Thursday, October 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.0%. Consolidated Water’s payout ratio is presently 67.47%.

Insider Activity at Consolidated Water

In related news, Director Raymond Whittaker sold 1,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $28.93, for a total value of $28,930.00. Following the completion of the sale, the director owned 2,038 shares of the company’s stock, valued at $58,959.34. This trade represents a 32.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 5.81% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on CWCO. Zacks Research upgraded shares of Consolidated Water from a “strong sell” rating to a “hold” rating in a research report on Friday, August 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Consolidated Water in a report on Friday, October 2nd. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Consolidated Water Company Profile

Consolidated Water Co Ltd. (NASDAQ: CWCO) develops, operates and maintains seawater desalination plants and provides potable water through water utility and infrastructure services. The company’s activities include designing and constructing desalination facilities, producing and selling drinking water, and providing related engineering, procurement and construction services.

Founded in 1973 and headquartered in the Cayman Islands, Consolidated Water has historically served communities and commercial customers in the Caribbean, including the Cayman Islands and The Bahamas, as well as customers in the United States.