Consolidated Water Co. (CWCO) Lifted to “Hold” at Zacks Investment Research
Consolidated Water Co. (NASDAQ:CWCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Consolidated Water Co. Ltd. intends to develop and operate seawater conversion plants and water distribution systems in areas of the world where naturally-occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The company has signed contracts for its first overseas operations in the Commonwealth of the Bahamas. (PRESS RELEASE) “
Shares of Consolidated Water (NASDAQ:CWCO) traded up 0.55% during trading on Monday, reaching $11.00. The company had a trading volume of 62,013 shares. Consolidated Water has a 52-week low of $10.23 and a 52-week high of $14.69. The stock has a 50 day moving average of $11.85 and a 200 day moving average of $12.87. The stock has a market capitalization of $162.96 million, a price-to-earnings ratio of 21.32 and a beta of 0.91.
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Consolidated Water (NASDAQ:CWCO) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Consolidated Water had a return on equity of 5.01% and a net margin of 13.29%. Equities research analysts forecast that Consolidated Water will post $0.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Monday, October 3rd will be given a $0.075 dividend. The ex-dividend date is Thursday, September 29th. This represents a $0.30 dividend on an annualized basis and a yield of 2.73%. Consolidated Water’s payout ratio is currently 57.69%.
In other news, Director Richard Finlay acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, August 31st. The stock was bought at an average cost of $12.73 per share, with a total value of $127,300.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 3.18% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CWCO. State Street Corp boosted its position in Consolidated Water by 10.3% in the first quarter. State Street Corp now owns 172,646 shares of the company’s stock worth $2,102,000 after buying an additional 16,122 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its position in Consolidated Water by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 420,772 shares of the company’s stock worth $5,121,000 after buying an additional 1,404 shares during the last quarter. Geode Capital Management LLC boosted its position in Consolidated Water by 39.1% in the first quarter. Geode Capital Management LLC now owns 28,190 shares of the company’s stock worth $342,000 after buying an additional 7,928 shares during the last quarter. Royal Bank of Canada boosted its position in Consolidated Water by 3.5% in the first quarter. Royal Bank of Canada now owns 8,281 shares of the company’s stock worth $100,000 after buying an additional 281 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Consolidated Water by 36.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 80,782 shares of the company’s stock worth $983,000 after buying an additional 21,679 shares during the last quarter. 45.54% of the stock is owned by institutional investors.
About Consolidated Water
Consolidated Water Co Ltd. develops and operates seawater desalination plants (that utilize reverse osmosis technology) and water distribution systems in areas where naturally occurring supplies of potable water are scarce or non-existent. The Company operates in three segments: retail water operations, bulk water operations and services operations.
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