Global Water Resources (NASDAQ:GWRS) Raised to Buy at StockNews.com

Global Water Resources (NASDAQ:GWRS – Get Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Saturday.

Separately, Zacks Investment Research raised shares of Global Water Resources from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a report on Wednesday, May 11th.

GWRS opened at $13.31 on Friday. The stock has a market capitalization of $301.46 million, a PE ratio of 60.50, a P/E/G ratio of 4.48 and a beta of 0.70. The firm’s fifty day moving average price is $15.31 and its 200 day moving average price is $16.14. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.04 and a quick ratio of 1.04. Global Water Resources has a 12-month low of $13.14 and a 12-month high of $21.25.

Global Water Resources (NASDAQ:GWRS – Get Rating) last posted its quarterly earnings results on Thursday, March 10th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. The firm had revenue of $10.31 million for the quarter, compared to analysts’ expectations of $10.10 million. Global Water Resources had a net margin of 11.05% and a return on equity of 11.62%. On average, equities research analysts forecast that Global Water Resources will post 0.2 earnings per share for the current fiscal year.

In other Global Water Resources news, Director Andrew M. Cohn bought 3,408 shares of the stock in a transaction on Monday, March 28th. The stock was purchased at an average price of $15.95 per share, for a total transaction of $54,357.60. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrew M. Cohn purchased 2,993 shares of the stock in a transaction dated Monday, March 14th. The shares were purchased at an average price of $16.00 per share, with a total value of $47,888.00. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 44,391 shares of company stock valued at $710,169. 45.10% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in GWRS. Lazard Asset Management LLC grew its position in shares of Global Water Resources by 685.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,476 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,288 shares during the last quarter. Citigroup Inc. grew its position in shares of Global Water Resources by 65.9% during the third quarter. Citigroup Inc. now owns 1,443 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 573 shares during the last quarter. First Quadrant L P CA bought a new position in shares of Global Water Resources during the fourth quarter worth about $34,000. BNP Paribas Arbitrage SA grew its position in shares of Global Water Resources by 333.0% during the third quarter. BNP Paribas Arbitrage SA now owns 2,386 shares of the utilities provider’s stock worth $45,000 after acquiring an additional 1,835 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY bought a new position in Global Water Resources in the 3rd quarter valued at about $64,000. Institutional investors and hedge funds own 31.93% of the company’s stock.

Global Water Resources Company Profile (Get Rating)

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 74,048 people in approximately 27,630 homes. The company was founded in 2003 and is based in Phoenix, Arizona.

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