Global Water Resources Inc (NASDAQ:GWRS) declared a monthly dividend on Wednesday, July 1st, Wall Street Journal reports. Shareholders of record on Friday, July 17th will be paid a dividend of 0.0241 per share by the utilities provider on Friday, July 31st. This represents a $0.29 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend is Thursday, July 16th.
Global Water Resources has a payout ratio of 290.0% indicating that 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 $0.08 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 362.5%.
NASDAQ GWRS opened at $10.85 on Friday. The company has a fifty day moving average price of $10.51 and a 200-day moving average price of $11.59. The firm has a market cap of $244.53 million, a price-to-earnings ratio of 180.83, a PEG ratio of 7.23 and a beta of 0.42. The company has a debt-to-equity ratio of 3.27, a current ratio of 2.26 and a quick ratio of 2.26. Global Water Resources has a 1 year low of $8.51 and a 1 year high of $14.99.
Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $0.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The firm had revenue of $8.23 million for the quarter, compared to analysts’ expectations of $8.30 million. Global Water Resources had a net margin of 3.39% and a return on equity of 4.33%. On average, research analysts anticipate that Global Water Resources will post 0.1 EPS for the current fiscal year.
A number of research firms have recently weighed in on GWRS. TheStreet downgraded shares of Global Water Resources from a “b-” rating to a “c” rating in a research report on Thursday, March 5th. BidaskClub lowered Global Water Resources from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Finally, Zacks Investment Research upgraded Global Water Resources from a “sell” rating to a “hold” rating in a research note on Tuesday, May 12th.
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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