Consolidated Water (NASDAQ:CWCO) Lowered to “Neutral” at Janney Montgomery Scott

Janney Montgomery Scott lowered shares of Consolidated Water (NASDAQ:CWCO) from a buy rating to a neutral rating in a research report released on Tuesday, BenzingaRatingsTable reports. They currently have $14.00 price target on the utilities provider’s stock, down from their previous price target of $17.00.

Consolidated Water stock opened at $12.22 on Tuesday. The business has a fifty day moving average of $14.78 and a two-hundred day moving average of $15.65. The company has a quick ratio of 7.37, a current ratio of 8.11 and a debt-to-equity ratio of 0.02. The firm has a market cap of $189.38 million, a P/E ratio of 21.82, a P/E/G ratio of 2.90 and a beta of 0.24. Consolidated Water has a twelve month low of $12.00 and a twelve month high of $18.83.

Consolidated Water (NASDAQ:CWCO) last posted its earnings results on Friday, May 15th. The utilities provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The company had revenue of $20.73 million during the quarter, compared to analyst estimates of $17.50 million. Consolidated Water had a return on equity of 5.33% and a net margin of 12.24%. Equities analysts expect that Consolidated Water will post 0.54 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 1st will be issued a dividend of $0.085 per share. The ex-dividend date is Tuesday, June 30th. This represents a $0.34 dividend on an annualized basis and a yield of 2.78%. Consolidated Water’s dividend payout ratio is currently 60.71%.

A number of institutional investors have recently bought and sold shares of CWCO. Advisor Group Holdings Inc. purchased a new stake in Consolidated Water during the first quarter worth $788,000. Wellington Management Group LLP lifted its holdings in shares of Consolidated Water by 101.6% during the 1st quarter. Wellington Management Group LLP now owns 270,166 shares of the utilities provider’s stock valued at $4,431,000 after purchasing an additional 136,166 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Consolidated Water by 339.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 147,615 shares of the utilities provider’s stock valued at $2,421,000 after purchasing an additional 114,009 shares during the last quarter. AQR Capital Management LLC purchased a new stake in shares of Consolidated Water during the 1st quarter valued at $1,208,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Consolidated Water by 12.0% during the 4th quarter. Renaissance Technologies LLC now owns 615,184 shares of the utilities provider’s stock valued at $10,027,000 after purchasing an additional 65,786 shares during the last quarter. Institutional investors own 57.91% of the company’s stock.

Consolidated Water Company Profile

Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems primarily in the Cayman Islands, the Bahamas, Indonesia, and the United States. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.

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