Global Water Resources (NASDAQ:GWRS) Share Price Passes Below 50 Day Moving Average – Here’s What Happened

Global Water Resources, Inc. (NASDAQ:GWRS)’s stock price crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $12.32 and traded as low as $11.62. Global Water Resources shares last traded at $11.72, with a volume of 32,104 shares traded.

Global Water Resources Price Performance

The company has a quick ratio of 1.63, a current ratio of 1.62 and a debt-to-equity ratio of 2.47. The stock has a market cap of $283.88 million, a P/E ratio of 43.41, a price-to-earnings-growth ratio of 2.97 and a beta of 0.99. The business’s 50-day simple moving average is $12.32 and its two-hundred day simple moving average is $12.43.

Global Water Resources (NASDAQ:GWRS) last announced its quarterly earnings results on Wednesday, November 6th. The utilities provider reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Global Water Resources had a net margin of 12.52% and a return on equity of 14.23%. The firm had revenue of $14.32 million for the quarter, compared to the consensus estimate of $14.65 million. During the same period in the prior year, the firm posted $0.11 earnings per share. Sell-side analysts expect that Global Water Resources, Inc. will post 0.28 EPS for the current year.

Global Water Resources Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.0253 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.59%. The ex-dividend date is Friday, January 17th. Global Water Resources’s payout ratio is 111.11%.

Institutional Investors Weigh In On Global Water Resources

Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Global Water Resources by 151.9% in the third quarter. JPMorgan Chase & Co. now owns 20,954 shares of the utilities provider’s stock worth $264,000 after buying an additional 12,636 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its holdings in shares of Global Water Resources by 4.2% in the third quarter. Dynamic Advisor Solutions LLC now owns 26,268 shares of the utilities provider’s stock worth $331,000 after buying an additional 1,055 shares in the last quarter. Avanza Fonder AB purchased a new stake in Global Water Resources in the fourth quarter valued at approximately $327,000. Barclays PLC raised its stake in Global Water Resources by 89.3% in the third quarter. Barclays PLC now owns 31,663 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 14,936 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in Global Water Resources in the second quarter valued at approximately $857,000. 27.91% of the stock is owned by hedge funds and other institutional investors.

Global Water Resources Company Profile

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.