Global Water Resources Inc (NASDAQ:GWRS) announced a monthly dividend on Monday, December 31st, Wall Street Journal reports. Stockholders of record on Thursday, January 17th will be paid a dividend of 0.0239 per share by the utilities provider on Thursday, January 31st. This represents a $0.29 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Wednesday, January 16th.
Global Water Resources has a payout ratio of 152.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Global Water Resources to earn $0.16 per share next year, which means the company may not be able to cover its $0.29 annual dividend with an expected future payout ratio of 181.3%.
Shares of NASDAQ:GWRS opened at $9.89 on Friday. The stock has a market capitalization of $211.06 million, a PE ratio of 54.61, a price-to-earnings-growth ratio of 4.10 and a beta of -0.09. Global Water Resources has a 52-week low of $8.40 and a 52-week high of $11.61. The company has a debt-to-equity ratio of 3.89, a quick ratio of 2.30 and a current ratio of 2.30.
Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings results on Friday, November 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). Global Water Resources had a net margin of 16.95% and a return on equity of 19.57%. The business had revenue of $9.00 million during the quarter, compared to analyst estimates of $8.90 million. On average, sell-side analysts predict that Global Water Resources will post 0.17 earnings per share for the current year.
A number of equities research analysts recently weighed in on GWRS shares. ValuEngine raised Global Water Resources from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. TheStreet downgraded Global Water Resources from a “b-” rating to a “c+” rating in a research report on Monday, November 5th. Finally, Zacks Investment Research raised Global Water Resources from a “sell” rating to a “hold” rating in a research report on Tuesday, November 20th.
About Global Water Resources
Global Water Resources, Inc, a water resource management company, owns, operates, and manages regulated water, wastewater, and recycled water utilities primarily in metropolitan Phoenix, Arizona. As of December 31, 2017, it served approximately 51,000 people in approximately 20,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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