Global Water Resources (NASDAQ:GWRS) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Global Water Resources (NASDAQ:GWRS) from a buy rating to a strong-buy rating in a report issued on Friday, BidAskClub reports.

Separately, Zacks Investment Research lowered shares of Global Water Resources from a buy rating to a hold rating in a research report on Thursday, July 11th.

GWRS stock traded down $0.15 on Friday, hitting $13.15. 24,227 shares of the company were exchanged, compared to its average volume of 58,002. Global Water Resources has a twelve month low of $9.00 and a twelve month high of $13.33. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.79 and a quick ratio of 1.79. The company has a fifty day simple moving average of $11.04. The firm has a market cap of $286.39 million and a PE ratio of 87.67.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings results on Wednesday, May 8th. The utilities provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. Global Water Resources had a net margin of 9.58% and a return on equity of 13.74%. The firm had revenue of $7.72 million during the quarter, compared to analyst estimates of $8.30 million. Sell-side analysts predict that Global Water Resources will post 0.15 earnings per share for the current year.

The firm also recently disclosed a monthly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 17th were given a $0.024 dividend. The ex-dividend date was Tuesday, July 16th. This represents a $0.29 annualized dividend and a dividend yield of 2.19%. This is a positive change from Global Water Resources’s previous monthly dividend of $0.02. Global Water Resources’s dividend payout ratio is presently 193.33%.

Several institutional investors have recently added to or reduced their stakes in the company. Spark Investment Management LLC increased its position in shares of Global Water Resources by 9.3% in the first quarter. Spark Investment Management LLC now owns 14,100 shares of the utilities provider’s stock worth $138,000 after acquiring an additional 1,196 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of Global Water Resources by 0.8% in the second quarter. North Star Investment Management Corp. now owns 182,225 shares of the utilities provider’s stock worth $1,902,000 after acquiring an additional 1,450 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Global Water Resources by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 149,428 shares of the utilities provider’s stock worth $1,515,000 after acquiring an additional 1,540 shares in the last quarter. BlackRock Inc. increased its position in shares of Global Water Resources by 0.4% in the fourth quarter. BlackRock Inc. now owns 492,978 shares of the utilities provider’s stock worth $4,999,000 after acquiring an additional 1,836 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Global Water Resources by 93.4% in the fourth quarter. New York State Common Retirement Fund now owns 5,799 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 2,800 shares in the last quarter. 28.25% of the stock is owned by institutional investors.

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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