Consolidated Water (NASDAQ:CWCO) Stock Price Up 7.5% on Strong Earnings

Consolidated Water Co. Ltd. (NASDAQ:CWCOGet Free Report)’s share price was up 7.5% during trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $33.66 and last traded at $32.52. Approximately 18,269 shares traded hands during trading, a decline of 84% from the average session volume of 115,786 shares. The stock had previously closed at $30.24.

The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. Consolidated Water had a return on equity of 7.81% and a net margin of 13.50%.The business had revenue of $32.87 million for the quarter, compared to analyst estimates of $30.60 million.

Consolidated Water Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Wednesday, July 1st were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, July 1st. Consolidated Water’s dividend payout ratio is presently 62.22%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Consolidated Water from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings lowered shares of Consolidated Water from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Consolidated Water currently has an average rating of “Hold” and a consensus price target of $40.00.

Read Our Latest Report on CWCO

Hedge Funds Weigh In On Consolidated Water

Several hedge funds have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Consolidated Water by 1,467.3% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 768 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 719 shares in the last quarter. Quarry LP bought a new stake in Consolidated Water during the third quarter worth $40,000. Tower Research Capital LLC TRC boosted its position in Consolidated Water by 335.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,512 shares of the utilities provider’s stock worth $45,000 after purchasing an additional 1,165 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new position in Consolidated Water in the fourth quarter worth $51,000. Finally, State of Alaska Department of Revenue grew its stake in Consolidated Water by 382.7% in the 4th quarter. State of Alaska Department of Revenue now owns 2,317 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,837 shares during the period. Institutional investors own 55.16% of the company’s stock.

Consolidated Water Stock Performance

The stock has a market cap of $527.52 million, a P/E ratio of 36.57 and a beta of 0.51. The business has a 50 day simple moving average of $29.52 and a 200-day simple moving average of $32.51.

Consolidated Water Company Profile

(Get Free Report)

Consolidated Water Co Ltd. is a developer, operator and manufacturer of water treatment and desalination systems. The company designs, engineers, builds and operates reverse-osmosis desalination plants and water treatment facilities, offering both turnkey project delivery and ongoing operations and maintenance services. Its product portfolio includes modular desalination units, water distribution systems, filtration membranes and associated equipment for potable water production.

Consolidated Water serves municipalities, resorts, commercial enterprises and private customers in the Caribbean and the southeastern United States.

Recommended Stories

Receive News & Ratings for Consolidated Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Water and related companies with MarketBeat.com's FREE daily email newsletter.