Analysts expect Consolidated Water Co. Ltd. (NASDAQ:CWCO) to post $15.25 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Consolidated Water’s earnings, with estimates ranging from $15.00 million to $15.50 million. Consolidated Water reported sales of $16.57 million during the same quarter last year, which would suggest a negative year over year growth rate of 8%. The firm is expected to issue its next quarterly earnings report on Thursday, November 8th.
On average, analysts expect that Consolidated Water will report full year sales of $61.70 million for the current financial year, with estimates ranging from $61.00 million to $62.40 million. For the next year, analysts forecast that the business will post sales of $63.70 million, with estimates ranging from $63.00 million to $64.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Consolidated Water.
Consolidated Water (NASDAQ:CWCO) last released its earnings results on Monday, August 13th. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.01). The firm had revenue of $15.87 million during the quarter, compared to analysts’ expectations of $15.70 million. Consolidated Water had a net margin of 11.46% and a return on equity of 5.38%.
Several equities analysts have recently weighed in on CWCO shares. ValuEngine upgraded Consolidated Water from a “hold” rating to a “buy” rating in a research report on Saturday, July 14th. Zacks Investment Research upgraded Consolidated Water from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research report on Thursday, August 16th.
In other news, Director Raymond Whittaker sold 17,011 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $14.20, for a total value of $241,556.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.53% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp increased its holdings in shares of Consolidated Water by 2.7% in the second quarter. Northern Trust Corp now owns 175,189 shares of the utilities provider’s stock valued at $2,260,000 after purchasing an additional 4,626 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Consolidated Water by 84.4% in the second quarter. Bank of America Corp DE now owns 50,595 shares of the utilities provider’s stock valued at $653,000 after purchasing an additional 23,159 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of Consolidated Water by 41.1% in the second quarter. Renaissance Technologies LLC now owns 378,100 shares of the utilities provider’s stock valued at $4,877,000 after purchasing an additional 110,100 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Consolidated Water by 9.8% in the second quarter. BlackRock Inc. now owns 802,044 shares of the utilities provider’s stock valued at $10,346,000 after purchasing an additional 71,379 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its holdings in shares of Consolidated Water by 8.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 114,386 shares of the utilities provider’s stock valued at $1,476,000 after purchasing an additional 8,886 shares during the last quarter. Institutional investors and hedge funds own 53.92% of the company’s stock.
Shares of NASDAQ CWCO traded up $0.11 during midday trading on Thursday, hitting $13.12. The stock had a trading volume of 40,200 shares, compared to its average volume of 42,802. The company has a market cap of $207.19 million, a PE ratio of 26.59, a price-to-earnings-growth ratio of 2.75 and a beta of 0.63. Consolidated Water has a 1 year low of $11.20 and a 1 year high of $15.35.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Monday, October 1st will be given a $0.085 dividend. The ex-dividend date is Friday, September 28th. This represents a $0.34 annualized dividend and a dividend yield of 2.59%. Consolidated Water’s dividend payout ratio (DPR) is presently 69.39%.
Consolidated Water Company Profile
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
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