Global Water Resources, Inc. (NASDAQ:GWRS) Declares Monthly Dividend of $0.03

by · The Cerbat Gem

Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) announced a monthly dividend on Wednesday, November 26th. Stockholders of record on Tuesday, December 16th will be paid a dividend of 0.0253 per share by the utilities provider on Tuesday, December 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Tuesday, December 16th.

Global Water Resources has decreased its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 8 consecutive years. Global Water Resources has a dividend payout ratio of 107.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Global Water Resources to earn $0.30 per share next year, which means the company may not be able to cover its $0.30 annual dividend with an expected future payout ratio of 100.0%.

Global Water Resources Stock Performance

Global Water Resources stock traded up $0.11 during midday trading on Wednesday, hitting $8.55. 59,819 shares of the company were exchanged, compared to its average volume of 55,260. The business has a fifty day simple moving average of $9.96 and a two-hundred day simple moving average of $10.05. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market capitalization of $245.81 million, a PE ratio of 38.87 and a beta of 1.07. Global Water Resources has a fifty-two week low of $8.28 and a fifty-two week high of $13.68.

Global Water Resources (NASDAQ:GWRS – Get Free Report) last released its quarterly earnings data on Wednesday, November 12th. The utilities provider reported $0.07 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.02). The company had revenue of $15.52 million during the quarter, compared to analysts’ expectations of $15.20 million. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%. On average, sell-side analysts forecast that Global Water Resources will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Roth Capital set a $15.00 price objective on shares of Global Water Resources in a report on Monday, November 17th. Wall Street Zen lowered Global Water Resources from a “hold” rating to a “sell” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Global Water Resources in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

View Our Latest Stock Report on GWRS

About Global Water Resources

(Get Free Report)

Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water systems primarily in metropolitan Phoenix and Tucson, Arizona. It serves approximately 82,000 people in approximately 32,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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