Global Water Resources, Inc. (NASDAQ:GWRS) to Post Q1 2024 Earnings of $0.01 Per Share, Roth Capital Forecasts

Global Water Resources, Inc. (NASDAQ:GWRS) – Investment analysts at Roth Capital decreased their Q1 2024 earnings estimates for Global Water Resources in a report issued on Wednesday, May 1st. Roth Capital analyst G. Sweeney now expects that the utilities provider will earn $0.01 per share for the quarter, down from their prior estimate of $0.03. The consensus estimate for Global Water Resources’ current full-year earnings is $0.31 per share. Roth Capital also issued estimates for Global Water Resources’ Q3 2024 earnings at $0.12 EPS.

Global Water Resources Price Performance

Shares of NASDAQ GWRS opened at $12.76 on Thursday. The stock’s 50-day simple moving average is $12.55 and its 200-day simple moving average is $12.16. The company has a debt-to-equity ratio of 2.16, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market capitalization of $308.41 million, a PE ratio of 38.67, a price-to-earnings-growth ratio of 2.68 and a beta of 0.98. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.43.

Global Water Resources (NASDAQ:GWRS) last posted its earnings results on Wednesday, March 6th. The utilities provider reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $12.37 million for the quarter, compared to analyst estimates of $12.00 million. Global Water Resources had a return on equity of 13.64% and a net margin of 15.05%. During the same quarter in the prior year, the company posted $0.04 earnings per share.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. North Star Investment Management Corp. lifted its position in Global Water Resources by 23.5% in the fourth quarter. North Star Investment Management Corp. now owns 202,793 shares of the utilities provider’s stock valued at $2,653,000 after acquiring an additional 38,558 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Global Water Resources in the 4th quarter valued at about $423,000. Panagora Asset Management Inc. grew its stake in Global Water Resources by 36.1% during the 3rd quarter. Panagora Asset Management Inc. now owns 80,150 shares of the utilities provider’s stock worth $781,000 after buying an additional 21,276 shares during the last quarter. Manchester Capital Management LLC increased its position in Global Water Resources by 70.7% during the fourth quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock worth $642,000 after buying an additional 20,325 shares during the period. Finally, CWM LLC lifted its stake in Global Water Resources by 18.2% in the fourth quarter. CWM LLC now owns 12,766 shares of the utilities provider’s stock valued at $167,000 after buying an additional 1,970 shares during the last quarter. Institutional investors and hedge funds own 27.91% of the company’s stock.

Global Water Resources Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.025 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.30 annualized dividend and a dividend yield of 2.35%. Global Water Resources’s dividend payout ratio is presently 90.91%.

Global Water Resources Company Profile

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.