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) – Research analysts at Roth Capital decreased their Q1 2024 EPS estimates for shares of Global Water Resources in a research note issued on Wednesday, May 1st. Roth Capital analyst G. Sweeney now expects that the utilities provider will post earnings of $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 Trading Up 1.9 %

GWRS stock opened at $12.47 on Thursday. The company has a market capitalization of $301.40 million, a price-to-earnings ratio of 37.79, a PEG ratio of 2.63 and a beta of 0.98. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.82 and a quick ratio of 0.82. Global Water Resources has a 1-year low of $9.34 and a 1-year high of $13.43. The business has a 50 day simple moving average of $12.54 and a two-hundred day simple moving average of $12.13.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $12.37 million during 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.

Global Water Resources Announces Dividend

The business also recently announced a monthly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 16th were paid a dividend of $0.025 per share. The ex-dividend date was Monday, April 15th. This represents a $0.30 annualized dividend and a yield of 2.41%. Global Water Resources’s payout ratio is 90.91%.

Institutional Trading of Global Water Resources

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC grew its holdings in Global Water Resources by 18.2% during the 4th 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 in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Global Water Resources during the 4th quarter valued at approximately $423,000. Manchester Capital Management LLC grew its holdings in shares of Global Water Resources by 70.7% in the fourth quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock valued at $642,000 after purchasing an additional 20,325 shares in the last quarter. Panagora Asset Management Inc. increased its position in Global Water Resources by 36.1% in the third quarter. Panagora Asset Management Inc. now owns 80,150 shares of the utilities provider’s stock worth $781,000 after purchasing an additional 21,276 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in Global Water Resources by 23.5% during 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 purchasing an additional 38,558 shares in the last quarter. 27.91% of the stock is currently owned by institutional investors.

About Global Water Resources

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.