Global Water Resources (NASDAQ:GWRS) Shares Cross Below 50 Day Moving Average – Here’s Why

Global Water Resources, Inc. (NASDAQ:GWRS)’s share price passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $12.43 and traded as low as $12.07. Global Water Resources shares last traded at $12.12, with a volume of 8,774 shares changing hands.

Global Water Resources Stock Down 0.3 %

The company has a debt-to-equity ratio of 2.53, a current ratio of 1.86 and a quick ratio of 1.86. The company has a market capitalization of $293.01 million, a price-to-earnings ratio of 46.62, a PEG ratio of 3.18 and a beta of 0.97. The firm has a 50-day moving average price of $12.43 and a two-hundred day moving average price of $12.48.

Global Water Resources (NASDAQ:GWRS) last released its quarterly earnings results on Wednesday, August 7th. The utilities provider reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). Global Water Resources had a return on equity of 13.45% and a net margin of 11.91%. The firm had revenue of $13.51 million for the quarter, compared to analyst estimates of $13.60 million. During the same period last year, the company earned $0.07 EPS. As a group, sell-side analysts anticipate that Global Water Resources, Inc. will post 0.27 earnings per share for the current fiscal year.

Global Water Resources Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 17th will be paid a $0.025 dividend. The ex-dividend date is Thursday, October 17th. This represents a $0.30 annualized dividend and a yield of 2.48%. Global Water Resources’s payout ratio is currently 115.38%.

Hedge Funds Weigh In On Global Water Resources

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Global Water Resources by 1.3% in the first quarter. Vanguard Group Inc. now owns 678,279 shares of the utilities provider’s stock valued at $8,709,000 after buying an additional 8,960 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Global Water Resources by 9.1% in the second quarter. Panagora Asset Management Inc. now owns 96,088 shares of the utilities provider’s stock valued at $1,163,000 after acquiring an additional 8,033 shares during the last quarter. Commonwealth Equity Services LLC bought a new position in shares of Global Water Resources in the 2nd quarter valued at about $857,000. Renaissance Technologies LLC increased its stake in shares of Global Water Resources by 2.6% during the 2nd quarter. Renaissance Technologies LLC now owns 240,447 shares of the utilities provider’s stock worth $2,909,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC raised its holdings in shares of Global Water Resources by 4.2% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 26,268 shares of the utilities provider’s stock valued at $331,000 after purchasing an additional 1,055 shares during the period. 27.91% of the stock is currently owned by institutional investors and hedge funds.

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.