Zacks: Global Water Resources Inc (NASDAQ:GWRS) Given Consensus Recommendation of “Strong Buy” by Analysts

Global Water Resources Inc (NASDAQ:GWRS) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokerages have set a 1 year consensus price objective of $12.00 for the company and are anticipating that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also given Global Water Resources an industry rank of 166 out of 256 based on the ratings given to related companies.

Several research analysts recently issued reports on GWRS shares. Zacks Investment Research lowered Global Water Resources from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. BidaskClub lowered Global Water Resources from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 26th.

A number of institutional investors have recently modified their holdings of GWRS. Handelsinvest Investeringsforvaltning grew its holdings in Global Water Resources by 99.9% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 87,849 shares of the utilities provider’s stock worth $862,000 after acquiring an additional 43,900 shares during the period. Granite Investment Partners LLC grew its holdings in Global Water Resources by 87.8% during the 1st quarter. Granite Investment Partners LLC now owns 77,156 shares of the utilities provider’s stock worth $757,000 after acquiring an additional 36,066 shares during the period. Clear Harbor Asset Management LLC acquired a new stake in Global Water Resources during the 1st quarter worth about $245,000. Rhumbline Advisers acquired a new stake in Global Water Resources during the 4th quarter worth about $135,000. Finally, SG Americas Securities LLC acquired a new stake in Global Water Resources during the 1st quarter worth about $110,000. Hedge funds and other institutional investors own 28.25% of the company’s stock.

Shares of GWRS traded up $0.10 during trading hours on Wednesday, reaching $12.66. The stock had a trading volume of 35,400 shares, compared to its average volume of 24,655. Global Water Resources has a 12 month low of $9.00 and a 12 month high of $12.75. The company has a market cap of $262.05 million, a PE ratio of 84.40, a PEG ratio of 5.41 and a beta of -0.01. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.79 and a quick ratio of 1.79. The stock has a 50-day moving average price of $10.93.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, May 8th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The business had revenue of $7.72 million during the quarter, compared to analyst estimates of $8.30 million. Global Water Resources had a return on equity of 13.74% and a net margin of 9.58%. On average, research analysts predict that Global Water Resources will post 0.15 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 17th will be issued a dividend of $0.024 per share. This is an increase from Global Water Resources’s previous monthly dividend of $0.02. This represents a $0.29 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend is Tuesday, July 16th. Global Water Resources’s dividend payout ratio (DPR) is presently 193.33%.

Global Water Resources Company Profile

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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