Global Water Resources, Inc. (NASDAQ:GWRS – Get Free Report) declared a monthly dividend on Wednesday, September 30th. Shareholders of record on Friday, October 16th will be paid a dividend of $0.0253 per share by the utilities provider on Friday, October 30th. This represents a $0.30 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, October 16th.
Global Water Resources has decreased its dividend payment by an average of 0.1%annually 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. Equities research analysts expect Global Water Resources to earn $0.13 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 230.8%.
Global Water Resources Stock Down 0.4%
Global Water Resources stock opened at $7.95 on Thursday. The company has a 50 day moving average of $8.31 and a 200-day moving average of $7.63. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 1.62. Global Water Resources has a twelve month low of $6.55 and a twelve month high of $11.17. The stock has a market capitalization of $228.96 million, a PE ratio of 72.28 and a beta of 0.93.
Analyst Ratings Changes
GWRS has been the topic of a number of research reports. Wall Street Zen upgraded Global Water Resources from a “sell” rating to a “hold” rating in a report on Saturday, August 15th. Weiss Ratings upgraded Global Water Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, August 31st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.00.
Read Our Latest Stock Report on GWRS
About Global Water Resources
Global Water Resources, Inc (NASDAQ: GWRS) is a water resource management company that owns and operates regulated water, wastewater and recycled water utilities. The company serves residential, commercial and industrial customers, providing essential services such as water production and distribution, wastewater collection and treatment, and water reuse.
Headquartered in Arizona, Global Water Resources primarily operates in the Phoenix metropolitan area and surrounding growth corridors.
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