Global Water Resources Inc (NASDAQ:GWRS) declared a dividend on Wednesday, July 31st, Fidelity reports. Shareholders of record on Thursday, August 15th will be given a dividend of 0.0239 per share by the utilities provider on Thursday, August 29th. The ex-dividend date is Wednesday, August 14th. This is a positive change from Global Water Resources’s previous dividend of $0.02.
Global Water Resources has a dividend payout ratio of 152.6% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Global Water Resources to earn $0.17 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 170.6%.
GWRS stock traded down $0.17 during mid-day trading on Monday, reaching $11.61. 9,035 shares of the company traded hands, compared to its average volume of 58,933. The firm has a market cap of $254.05 million and a PE ratio of 77.40. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 4.24. Global Water Resources has a fifty-two week low of $9.00 and a fifty-two week high of $13.33. The company has a 50 day simple moving average of $11.27.
A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Global Water Resources from a “c” rating to a “b-” rating in a report on Thursday. Zacks Investment Research upgraded shares of Global Water Resources from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a research report on Saturday. Finally, BidaskClub lowered shares of Global Water Resources from a “strong-buy” rating to a “buy” rating in a research report on Thursday.
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, 2018, it served approximately 55,000 people in 21,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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