Equities Analysts Offer Predictions for Global Water Resources, Inc.’s Q1 2024 Earnings (NASDAQ:GWRS)

Global Water Resources, Inc. (NASDAQ:GWRS) – Equities research analysts at Roth Capital reduced their Q1 2024 earnings estimates for shares of Global Water Resources in a research note issued to investors on Wednesday, May 1st. Roth Capital analyst G. Sweeney now forecasts that the utilities provider will earn $0.01 per share for the quarter, down from their previous forecast 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 Stock Performance

NASDAQ:GWRS opened at $12.47 on Thursday. The stock has a market cap of $301.40 million, a P/E ratio of 37.79, a PEG ratio of 2.63 and a beta of 0.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 2.16. The business’s 50-day moving average price is $12.54 and its two-hundred day moving average price is $12.13. Global Water Resources has a twelve month low of $9.34 and a twelve month high of $13.43.

Global Water Resources (NASDAQ:GWRS) last issued its quarterly earnings data on Wednesday, March 6th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Global Water Resources had a return on equity of 13.64% and a net margin of 15.05%. The company had revenue of $12.37 million for the quarter, compared to the consensus estimate of $12.00 million. During the same quarter last year, the business posted $0.04 earnings per share.

Hedge Funds Weigh In On Global Water Resources

A number of institutional investors have recently made changes to their positions in GWRS. North Star Investment Management Corp. lifted its holdings in shares of 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 last quarter. Panagora Asset Management Inc. lifted its stake in Global Water Resources by 36.1% during 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. Manchester Capital Management LLC boosted its holdings in shares of Global Water Resources by 70.7% in the 4th quarter. Manchester Capital Management LLC now owns 49,093 shares of the utilities provider’s stock worth $642,000 after purchasing an additional 20,325 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new position in shares of Global Water Resources during the 4th quarter valued at about $423,000. Finally, CWM LLC increased its position in shares of 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 purchasing an additional 1,970 shares during the last quarter. Institutional investors own 27.91% of the company’s stock.

Global Water Resources Dividend Announcement

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

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.