Global Water Resources, Inc. (NASDAQ:GWRS) declared a monthly dividend on Monday, May 3rd, Wall Street Journal reports. Investors of record on Friday, May 14th will be paid a dividend of 0.0243 per share by the utilities provider on Friday, May 28th. This represents a $0.29 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, May 13th.
Global Water Resources has raised its dividend by 5.5% over the last three years and has increased its dividend annually for the last 5 consecutive years. Global Water Resources has a payout ratio of 263.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Global Water Resources to earn $0.12 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 241.7%.
Shares of GWRS stock opened at $17.16 on Tuesday. The firm’s fifty day moving average price is $17.04 and its two-hundred day moving average price is $15.34. The company has a current ratio of 2.31, a quick ratio of 2.31 and a debt-to-equity ratio of 3.39. Global Water Resources has a 1 year low of $9.75 and a 1 year high of $18.15. The firm has a market capitalization of $387.61 million, a P/E ratio of 1,717.72, a PEG ratio of 9.20 and a beta of 0.59.
A number of brokerages recently weighed in on GWRS. Zacks Investment Research upgraded shares of Global Water Resources from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 27th. Roth Capital upped their target price on shares of Global Water Resources from $12.50 to $19.00 and gave the company a “buy” rating in a report on Thursday, February 25th.
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, 2020, it served approximately 66,000 people in 24,000 homes. The company was founded in 2003 and is based in Phoenix, Arizona.
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