Global Water Resources (NASDAQ:GWRS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Global Water Resources (NASDAQ:GWRS) from a buy rating to a hold rating in a research report released on Wednesday, Zacks.com reports.

According to Zacks, “Global Water Resources, Inc. is a water resource management company. It owns and operates regulated water, wastewater and recycled water utilities. Global Water Resources, Inc. is headquartered in Phoenix, Arizona. “

A number of other equities research analysts have also recently commented on GWRS. BidaskClub cut Global Water Resources from a strong-buy rating to a buy rating in a report on Wednesday. ValuEngine raised Global Water Resources from a hold rating to a buy rating in a report on Wednesday, October 30th. Finally, TheStreet raised Global Water Resources from a c rating to a b- rating in a report on Thursday, August 8th.

GWRS stock traded down $0.60 on Wednesday, reaching $12.30. 20,600 shares of the company traded hands, compared to its average volume of 22,551. The company has a market cap of $257.80 million, a P/E ratio of 82.00, a price-to-earnings-growth ratio of 5.70 and a beta of 0.05. The company has a debt-to-equity ratio of 4.28, a current ratio of 1.73 and a quick ratio of 1.73. The firm has a fifty day simple moving average of $12.08 and a 200-day simple moving average of $11.16. Global Water Resources has a one year low of $9.00 and a one year high of $13.33.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Wednesday, November 6th. The utilities provider reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. The company had revenue of $9.94 million for the quarter, compared to the consensus estimate of $9.70 million. Global Water Resources had a return on equity of 7.03% and a net margin of 5.73%. On average, sell-side analysts forecast that Global Water Resources will post 0.14 EPS for the current year.

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 26th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.0239 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.29 dividend on an annualized basis and a yield of 2.33%. Global Water Resources’s dividend payout ratio is presently 193.33%.

A number of large investors have recently bought and sold shares of GWRS. North Star Investment Management Corp. raised its holdings in Global Water Resources by 0.8% during the second quarter. North Star Investment Management Corp. now owns 182,225 shares of the utilities provider’s stock valued at $1,902,000 after acquiring an additional 1,450 shares during the period. Wasatch Advisors Inc. increased its holdings in shares of Global Water Resources by 39.2% in the second quarter. Wasatch Advisors Inc. now owns 400,365 shares of the utilities provider’s stock worth $4,180,000 after purchasing an additional 112,787 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Global Water Resources by 10.4% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,151 shares of the utilities provider’s stock worth $305,000 after purchasing an additional 2,757 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Global Water Resources by 3.6% in the second quarter. Bank of New York Mellon Corp now owns 157,680 shares of the utilities provider’s stock worth $1,646,000 after purchasing an additional 5,444 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Global Water Resources by 4.0% in the second quarter. Renaissance Technologies LLC now owns 224,663 shares of the utilities provider’s stock worth $2,345,000 after purchasing an additional 8,538 shares during the last quarter. 30.35% of the stock is currently owned by institutional investors and hedge funds.

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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