Global Water Resources (GWRS) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Global Water Resources (NASDAQ:GWRS) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

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. “

GWRS has been the topic of a number of other research reports. ValuEngine raised Global Water Resources from a hold rating to a buy rating in a research report on Thursday, September 27th. TheStreet downgraded Global Water Resources from a b- rating to a c+ rating in a research report on Monday, November 5th.

GWRS stock opened at $9.83 on Friday. The company has a debt-to-equity ratio of 3.89, a quick ratio of 2.30 and a current ratio of 2.30. Global Water Resources has a twelve month low of $8.40 and a twelve month high of $11.61. The firm has a market capitalization of $211.06 million, a price-to-earnings ratio of 81.92, a price-to-earnings-growth ratio of 4.10 and a beta of -0.09.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Friday, November 9th. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Global Water Resources had a return on equity of 19.57% and a net margin of 16.95%. The business had revenue of $9.00 million during the quarter, compared to analysts’ expectations of $8.90 million. Sell-side analysts predict that Global Water Resources will post 0.17 earnings per share for the current fiscal year.

The company also recently declared a monthly dividend, which will be paid on Thursday, January 31st. Stockholders of record on Thursday, January 17th will be given a dividend of $0.0239 per share. This represents a $0.29 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, January 16th. Global Water Resources’s payout ratio is 233.33%.

A number of hedge funds have recently modified their holdings of GWRS. BlackRock Inc. boosted its position in Global Water Resources by 6.7% during the second quarter. BlackRock Inc. now owns 480,313 shares of the utilities provider’s stock valued at $4,514,000 after purchasing an additional 30,230 shares in the last quarter. Renaissance Technologies LLC boosted its position in Global Water Resources by 14.7% during the second quarter. Renaissance Technologies LLC now owns 150,800 shares of the utilities provider’s stock valued at $1,418,000 after purchasing an additional 19,343 shares in the last quarter. Advisors Asset Management Inc. boosted its position in Global Water Resources by 21.2% during the second quarter. Advisors Asset Management Inc. now owns 28,404 shares of the utilities provider’s stock valued at $267,000 after purchasing an additional 4,972 shares in the last quarter. North Star Investment Management Corp. boosted its position in Global Water Resources by 16.0% during the third quarter. North Star Investment Management Corp. now owns 181,065 shares of the utilities provider’s stock valued at $1,917,000 after purchasing an additional 25,000 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its position in Global Water Resources by 110.3% during the third quarter. Handelsbanken Fonder AB now owns 762,648 shares of the utilities provider’s stock valued at $8,076,000 after purchasing an additional 400,000 shares in the last quarter. 29.37% of the stock is currently 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, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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