Global Water Resources (NASDAQ:GWRS) Downgraded by ValuEngine to “Hold”

ValuEngine cut shares of Global Water Resources (NASDAQ:GWRS) from a buy rating to a hold rating in a report published on Tuesday, ValuEngine reports.

Several other research analysts have also recently issued reports on GWRS. TheStreet raised shares of Global Water Resources from a c rating to a b- rating in a report on Thursday, August 8th. Zacks Investment Research lowered shares of Global Water Resources from a buy rating to a hold rating in a report on Wednesday, November 6th. Finally, BidaskClub raised Global Water Resources from a buy rating to a strong-buy rating in a research report on Friday, November 15th.

GWRS opened at $13.28 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 4.35. Global Water Resources has a 12-month low of $9.00 and a 12-month high of $14.99. The firm has a 50 day moving average of $12.43 and a two-hundred day moving average of $11.53. The firm has a market capitalization of $290.10 million, a PE ratio of 88.53, a P/E/G ratio of 6.41 and a beta of 0.09.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, November 6th. The utilities provider reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $9.94 million for the quarter, compared to the consensus estimate of $9.70 million. Global Water Resources had a net margin of 6.76% and a return on equity of 8.77%. As a group, analysts predict that Global Water Resources will post 0.14 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which was paid on Tuesday, November 26th. Investors of record on Tuesday, November 12th were issued a dividend of $0.0239 per share. This represents a $0.29 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Friday, November 8th. Global Water Resources’s dividend payout ratio (DPR) is 193.33%.

A number of hedge funds have recently made changes to their positions in the stock. Polar Asset Management Partners Inc. lifted its holdings in Global Water Resources by 204.1% in the second quarter. Polar Asset Management Partners Inc. now owns 499,183 shares of the utilities provider’s stock valued at $5,211,000 after acquiring an additional 335,033 shares during the period. Handelsbanken Fonder AB increased its holdings in shares of Global Water Resources by 33.8% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,026,257 shares of the utilities provider’s stock valued at $12,151,000 after purchasing an additional 259,107 shares in the last quarter. Handelsinvest Investeringsforvaltning increased its holdings in shares of Global Water Resources by 159.4% during the 3rd quarter. Handelsinvest Investeringsforvaltning now owns 227,849 shares of the utilities provider’s stock valued at $2,698,000 after purchasing an additional 140,000 shares in the last quarter. Wasatch Advisors Inc. lifted its stake in shares of Global Water Resources by 39.2% in the 2nd quarter. Wasatch Advisors Inc. now owns 400,365 shares of the utilities provider’s stock valued at $4,180,000 after purchasing an additional 112,787 shares during the period. Finally, BlackRock Inc. lifted its stake in shares of Global Water Resources by 19.2% in the 2nd quarter. BlackRock Inc. now owns 608,511 shares of the utilities provider’s stock valued at $6,353,000 after purchasing an additional 98,189 shares during the period. Institutional investors own 29.09% of the company’s stock.

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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