Global Water Resources Inc (NASDAQ:GWRS) Plans $0.02 — Dividend

Global Water Resources Inc (NASDAQ:GWRS) declared a — dividend on Friday, August 30th, Wall Street Journal reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.0239 per share by the utilities provider on Monday, September 30th. This represents a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, September 13th.

Global Water Resources has a dividend payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.17 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 170.6%.

NASDAQ GWRS opened at $12.70 on Thursday. The stock has a market cap of $260.63 million, a PE ratio of 84.67, a P/E/G ratio of 5.36 and a beta of 0.05. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 4.28. Global Water Resources has a twelve month low of $9.00 and a twelve month high of $13.33. The stock has a fifty day simple moving average of $11.94 and a 200-day simple moving average of $10.46.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.04 EPS for the quarter, meeting analysts’ consensus estimates of $0.04. Global Water Resources had a return on equity of 7.03% and a net margin of 5.73%. The company had revenue of $9.12 million during the quarter, compared to analysts’ expectations of $9.30 million. Research analysts predict that Global Water Resources will post 0.15 EPS for the current year.

GWRS has been the subject of a number of research analyst reports. TheStreet upgraded Global Water Resources from a “c” rating to a “b-” rating in a report on Thursday, August 8th. Zacks Investment Research cut Global Water Resources from a “buy” rating to a “hold” rating in a report on Monday, August 12th. Finally, BidaskClub cut Global Water Resources from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 8th.

About Global Water Resources

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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Dividend History for Global Water Resources (NASDAQ:GWRS)

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