Wall Street Zen Downgrades Global Water Resources (NASDAQ:GWRS) to Sell

Global Water Resources (NASDAQ:GWRS) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Global Water Resources Stock Down 0.8%

NASDAQ GWRS opened at $9.86 on Friday. The business has a fifty day moving average price of $10.22 and a two-hundred day moving average price of $10.53. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.09 and a quick ratio of 1.55. Global Water Resources has a fifty-two week low of $9.37 and a fifty-two week high of $13.98. The stock has a market capitalization of $270.85 million, a PE ratio of 44.82, a PEG ratio of 3.08 and a beta of 1.05.

Global Water Resources (NASDAQ:GWRS) last released its earnings results on Wednesday, August 13th. The utilities provider reported $0.06 earnings per share for the quarter, hitting the consensus estimate of $0.06. Global Water Resources had a return on equity of 9.67% and a net margin of 10.27%. The firm had revenue of $14.24 million during the quarter, compared to analysts’ expectations of $14.20 million. Equities analysts expect that Global Water Resources will post 0.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Global Water Resources by 12.0% in the 1st quarter. Rhumbline Advisers now owns 17,595 shares of the utilities provider’s stock valued at $181,000 after acquiring an additional 1,884 shares during the last quarter. Blair William & Co. IL acquired a new stake in Global Water Resources in the first quarter valued at $113,000. JPMorgan Chase & Co. increased its holdings in Global Water Resources by 110.3% in the fourth quarter. JPMorgan Chase & Co. now owns 44,067 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 23,113 shares during the period. North Star Investment Management Corp. increased its holdings in Global Water Resources by 46.3% in the first quarter. North Star Investment Management Corp. now owns 342,593 shares of the utilities provider’s stock valued at $3,532,000 after purchasing an additional 108,500 shares during the period. Finally, Bank of America Corp DE increased its holdings in Global Water Resources by 61.8% in the fourth quarter. Bank of America Corp DE now owns 24,539 shares of the utilities provider’s stock valued at $282,000 after purchasing an additional 9,370 shares during the period. 27.91% of the stock is currently owned by institutional investors.

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.