Zacks: Analysts Set $12.00 Price Target for Global Water Resources Inc (GWRS)

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

Brokers have set a 12-month consensus price objective of $12.00 for the company and are anticipating that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Water Resources an industry rank of 23 out of 256 based on the ratings given to its competitors.

Separately, Zacks Investment Research upgraded shares of Global Water Resources from a “sell” rating to a “hold” rating in a research report on Friday, January 11th.

Shares of NASDAQ GWRS opened at $9.49 on Friday. The company has a debt-to-equity ratio of 4.11, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $202.26 million, a PE ratio of 63.27, a price-to-earnings-growth ratio of 4.97 and a beta of -0.23. Global Water Resources has a 12-month low of $8.68 and a 12-month high of $11.61.

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, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $7.72 million for the quarter, compared to analysts’ expectations of $8.30 million. Global Water Resources had a net margin of 8.74% and a return on equity of 14.30%. As a group, sell-side analysts expect that Global Water Resources will post 0.13 EPS for the current year.

The firm also recently announced a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.024 per share. This represents a $0.29 annualized dividend and a dividend yield of 3.03%. This is a boost from Global Water Resources’s previous monthly dividend of $0.02. The ex-dividend date is Thursday, May 16th. Global Water Resources’s dividend payout ratio is currently 193.33%.

In other news, Director Cindy M. Bowers sold 9,426 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $9.50, for a total transaction of $89,547.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Debra Coy bought 2,600 shares of the firm’s stock in a transaction dated Friday, March 29th. The shares were acquired at an average price of $9.90 per share, for a total transaction of $25,740.00. The disclosure for this purchase can be found here. 45.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in GWRS. New York State Common Retirement Fund grew its holdings in Global Water Resources by 93.4% during the 4th quarter. New York State Common Retirement Fund now owns 5,799 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 2,800 shares during the last quarter. SG Americas Securities LLC bought a new position in Global Water Resources during the 1st quarter valued at about $110,000. Rhumbline Advisers bought a new position in Global Water Resources during the 4th quarter valued at about $135,000. Spark Investment Management LLC grew its holdings in Global Water Resources by 9.3% during the 1st quarter. Spark Investment Management LLC now owns 14,100 shares of the utilities provider’s stock valued at $138,000 after purchasing an additional 1,196 shares during the last quarter. Finally, Clear Harbor Asset Management LLC bought a new position in Global Water Resources during the 1st quarter valued at about $245,000. Hedge funds and other institutional investors own 29.57% of the company’s stock.

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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