Global Water Resources, Inc. (NASDAQ:GWRS) issued its quarterly earnings results on Tuesday, August 8th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by $0.02, MarketWatch Earnings reports. The company 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%.
Shares of Global Water Resources (GWRS) traded up 1.40% during trading on Friday, reaching $9.40. The company had a trading volume of 18,568 shares. Global Water Resources has a 52-week low of $7.50 and a 52-week high of $10.00. The stock has a 50 day moving average of $9.59 and a 200 day moving average of $9.07. The stock has a market capitalization of $184.30 million, a price-to-earnings ratio of 114.63 and a beta of 0.31.
The business also recently declared a monthly dividend, which will be paid on Thursday, August 31st. Investors of record on Thursday, August 17th will be given a $0.023 dividend. This represents a $0.28 annualized dividend and a yield of 2.94%. The ex-dividend date is Tuesday, August 15th. Global Water Resources’s dividend payout ratio (DPR) is presently 350.04%.
In related news, Director L Rita Theil sold 25,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $9.23, for a total transaction of $230,750.00. Following the sale, the director now owns 2,666 shares in the company, valued at $24,607.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
A hedge fund recently raised its stake in Global Water Resources stock. California State Teachers Retirement System boosted its stake in shares of Global Water Resources, Inc. (NASDAQ:GWRS) by 6.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,958 shares of the utilities provider’s stock after buying an additional 1,100 shares during the period. California State Teachers Retirement System owned 0.09% of Global Water Resources worth $178,000 as of its most recent SEC filing. 16.21% of the stock is owned by institutional investors and hedge funds.
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GWRS has been the topic of several recent research reports. Roth Capital set a $11.00 price target on Global Water Resources and gave the company a “buy” rating in a research report on Saturday, May 27th. Zacks Investment Research upgraded Global Water Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, July 17th.
About Global Water Resources
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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