Global Water Resources Inc (NASDAQ:GWRS) Given Consensus Recommendation of “Strong Buy” by Analysts

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

Brokerages have set a 12 month consensus price objective of $12.50 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also assigned Global Water Resources an industry rank of 149 out of 256 based on the ratings given to its competitors.

Several research analysts recently weighed in on GWRS shares. BidaskClub cut Global Water Resources from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 8th. Zacks Investment Research cut Global Water Resources from a “buy” rating to a “hold” rating in a research note on Monday. Finally, TheStreet raised Global Water Resources from a “c” rating to a “b-” rating in a research note on Thursday, August 8th.

Large investors have recently added to or reduced their stakes in the stock. Morgan Stanley raised its holdings in Global Water Resources by 57.2% during the second quarter. Morgan Stanley now owns 20,322 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 7,392 shares in the last quarter. Polar Asset Management Partners Inc. raised its holdings in Global Water Resources by 204.1% during the second quarter. Polar Asset Management Partners Inc. now owns 499,183 shares of the utilities provider’s stock worth $5,211,000 after acquiring an additional 335,033 shares in the last quarter. Vanguard Group Inc. raised its holdings in Global Water Resources by 0.9% during the second quarter. Vanguard Group Inc. now owns 496,575 shares of the utilities provider’s stock worth $5,184,000 after acquiring an additional 4,214 shares in the last quarter. BlackRock Inc. raised its holdings in Global Water Resources by 19.2% during the second quarter. BlackRock Inc. now owns 608,511 shares of the utilities provider’s stock worth $6,353,000 after acquiring an additional 98,189 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Global Water Resources by 9.1% during the second quarter. Parametric Portfolio Associates LLC now owns 32,032 shares of the utilities provider’s stock worth $334,000 after acquiring an additional 2,667 shares in the last quarter. Institutional investors and hedge funds own 28.16% of the company’s stock.

GWRS stock traded up $0.01 during trading hours on Thursday, hitting $11.38. 10,900 shares of the stock traded hands, compared to its average volume of 24,561. The stock has a 50-day simple moving average of $11.42 and a 200 day simple moving average of $10.15. Global Water Resources has a one year low of $9.00 and a one year high of $13.33. The company has a market cap of $247.89 million and a P/E ratio of 75.87. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 4.24.

Global Water Resources (NASDAQ:GWRS) last announced its earnings results on Wednesday, August 7th. The utilities provider reported $0.04 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. Global Water Resources had a return on equity of 6.95% and a net margin of 5.73%. The business had revenue of $9.12 million during the quarter, compared to analysts’ expectations of $9.30 million. Analysts forecast that Global Water Resources will post 0.15 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Thursday, August 29th. Investors of record on Thursday, August 15th will be given a $0.0239 dividend. This is a positive change from Global Water Resources’s previous dividend of $0.02. The ex-dividend date is Wednesday, August 14th. Global Water Resources’s dividend payout ratio (DPR) is 193.33%.

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, 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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