Q2 2024 Earnings Forecast for Global Water Resources, Inc. Issued By Roth Capital (NASDAQ:GWRS)

Global Water Resources, Inc. (NASDAQ:GWRSFree Report) – Analysts at Roth Capital decreased their Q2 2024 earnings per share estimates for shares of Global Water Resources in a research report issued on Monday, May 13th. Roth Capital analyst G. Sweeney now forecasts that the utilities provider will earn $0.07 per share for the quarter, down from their prior forecast of $0.08. 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’ Q4 2024 earnings at $0.04 EPS, FY2024 earnings at $0.24 EPS and FY2025 earnings at $0.23 EPS.

Global Water Resources Stock Performance

Shares of Global Water Resources stock opened at $12.99 on Wednesday. The firm has a 50 day simple moving average of $12.53 and a 200 day simple moving average of $12.34. Global Water Resources has a fifty-two week low of $9.34 and a fifty-two week high of $13.43. The company has a debt-to-equity ratio of 2.56, a current ratio of 1.83 and a quick ratio of 1.83. The firm has a market cap of $314.10 million, a P/E ratio of 49.96, a P/E/G ratio of 2.80 and a beta of 0.98.

Global Water Resources (NASDAQ:GWRSGet Free Report) last issued its quarterly earnings results on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.02. Global Water Resources had a net margin of 12.05% and a return on equity of 13.32%. The business had revenue of $12.37 million for the quarter, compared to the consensus estimate of $12.00 million. During the same quarter in the prior year, the company earned $0.04 EPS.

Global Water Resources Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, May 16th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.31%. Global Water Resources’s payout ratio is currently 115.39%.

Hedge Funds Weigh In On Global Water Resources

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Global Water Resources by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock valued at $8,709,000 after purchasing an additional 8,960 shares during the period. North Star Investment Management Corp. grew its holdings in Global Water Resources by 15.8% during the 1st quarter. North Star Investment Management Corp. now owns 234,893 shares of the utilities provider’s stock worth $3,016,000 after acquiring an additional 32,100 shares during the period. Manchester Capital Management LLC raised its position in shares of Global Water Resources by 70.7% during the 4th quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock valued at $642,000 after acquiring an additional 20,325 shares during the last quarter. CWM LLC lifted its stake in shares of Global Water Resources by 18.2% in the 4th quarter. CWM LLC now owns 12,766 shares of the utilities provider’s stock valued at $167,000 after purchasing an additional 1,970 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of Global Water Resources in the 4th quarter worth $423,000. Institutional investors own 27.91% of the company’s stock.

About Global Water Resources

(Get Free Report)

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.

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