Global Water Resources Inc (GWRS) Receives Consensus Recommendation of “Strong Buy” from Analysts

Shares of Global Water Resources Inc (NASDAQ:GWRS) have been given a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that provide coverage for the stock, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus price objective of $12.00 for the company and are anticipating that the company will post $0.01 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Water Resources an industry rank of 58 out of 256 based on the ratings given to its competitors.

GWRS has been the subject of several analyst reports. TheStreet lowered shares of Global Water Resources from a “b-” rating to a “c+” rating in a research report on Monday, November 5th. ValuEngine upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating in a report on Thursday, September 27th. Finally, Zacks Investment Research upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, November 13th.

Institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Global Water Resources by 6.7% during the second quarter. BlackRock Inc. now owns 480,313 shares of the utilities provider’s stock valued at $4,514,000 after purchasing an additional 30,230 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of Global Water Resources by 14.7% during the second quarter. Renaissance Technologies LLC now owns 150,800 shares of the utilities provider’s stock valued at $1,418,000 after acquiring an additional 19,343 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Global Water Resources by 21.2% during the second quarter. Advisors Asset Management Inc. now owns 28,404 shares of the utilities provider’s stock valued at $267,000 after acquiring an additional 4,972 shares during the last quarter. North Star Investment Management Corp. increased its position in shares of Global Water Resources by 16.0% during the third quarter. North Star Investment Management Corp. now owns 181,065 shares of the utilities provider’s stock valued at $1,917,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Handelsbanken Fonder AB increased its position in shares of Global Water Resources by 110.3% during the third quarter. Handelsbanken Fonder AB now owns 762,648 shares of the utilities provider’s stock valued at $8,076,000 after acquiring an additional 400,000 shares during the last quarter. Institutional investors and hedge funds own 29.37% of the company’s stock.

Global Water Resources stock traded down $0.06 during trading on Thursday, hitting $9.83. The stock had a trading volume of 17,840 shares, compared to its average volume of 19,100. Global Water Resources has a 1 year low of $8.40 and a 1 year high of $11.61. The company has a current ratio of 2.30, a quick ratio of 2.30 and a debt-to-equity ratio of 3.89. The company has a market cap of $211.06 million, a price-to-earnings ratio of 81.92, a PEG ratio of 4.10 and a beta of -0.09.

Global Water Resources (NASDAQ:GWRS) last issued its earnings results on Friday, November 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $9.00 million for the quarter, compared to the consensus estimate of $8.90 million. Global Water Resources had a net margin of 16.95% and a return on equity of 19.57%. As a group, equities research analysts forecast that Global Water Resources will post 0.17 earnings per share for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Thursday, January 31st. Investors of record on Thursday, January 17th will be issued a $0.0239 dividend. This represents a $0.29 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, January 16th. Global Water Resources’s dividend payout ratio is currently 233.33%.

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, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

Featured Article: Back-End Load

Get a free copy of the Zacks research report on Global Water Resources (GWRS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Global Water Resources Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Water Resources and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit