Global Water Resources Inc (NASDAQ:GWRS) declared a monthly dividend on Friday, June 28th, NASDAQ reports. Stockholders of record on Wednesday, July 17th will be paid a dividend of 0.024 per share by the utilities provider on Wednesday, July 31st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, July 16th. This is an increase from Global Water Resources’s previous monthly dividend of $0.02.
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 $0.18 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 161.1%.
Shares of GWRS stock opened at $10.67 on Friday. Global Water Resources has a 1 year low of $9.00 and a 1 year high of $11.61. The business’s 50 day moving average is $10.12. The firm has a market capitalization of $229.76 million, a price-to-earnings ratio of 71.13, a price-to-earnings-growth ratio of 4.74 and a beta of -0.01. The company has a debt-to-equity ratio of 4.24, a current ratio of 1.79 and a quick ratio of 1.79.
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, topping the Zacks’ 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 company had revenue of $7.72 million for the quarter, compared to analyst estimates of $8.30 million. Equities research analysts anticipate that Global Water Resources will post 0.15 earnings per share for the current year.
Separately, Zacks Investment Research upgraded shares of General Moly from a “sell” rating to a “hold” rating in a research report on Thursday.
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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