Zacks Investment Research Upgrades Consolidated Water Co. (CWCO) to “Hold”
Consolidated Water Co. (NASDAQ:CWCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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) “
Consolidated Water (NASDAQ:CWCO) traded up 0.55% on Monday, reaching $11.00. The company had a trading volume of 62,013 shares. The stock has a market capitalization of $162.96 million, a P/E ratio of 21.32 and a beta of 0.91. The stock’s 50 day moving average is $11.85 and its 200-day moving average is $12.87. Consolidated Water has a 1-year low of $10.23 and a 1-year high of $14.69.
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Consolidated Water (NASDAQ:CWCO) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. Consolidated Water had a net margin of 13.29% and a return on equity of 5.01%. On average, equities analysts predict that Consolidated Water will post $0.60 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Monday, October 3rd will be issued a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, September 29th. Consolidated Water’s dividend payout ratio is presently 57.69%.
In other news, Director Richard Finlay acquired 10,000 shares of the business’s stock in a transaction dated Wednesday, August 31st. The shares were acquired 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 Securities & Exchange Commission, which is accessible through the SEC website. 3.18% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada raised its position in shares of 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 in the last quarter. Martingale Asset Management L P purchased a new position in shares of Consolidated Water during the second quarter worth $142,000. Vanguard Group Inc. raised its position in shares of Consolidated Water by 4.1% in the second quarter. Vanguard Group Inc. now owns 24,370 shares of the company’s stock worth $318,000 after buying an additional 949 shares in the last quarter. Globeflex Capital L P purchased a new position in shares of Consolidated Water during the second quarter worth $334,000. Finally, Geode Capital Management LLC raised its position in shares of 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 in the last quarter. 45.54% of the stock is currently owned by institutional investors and hedge funds.
Consolidated Water Company Profile
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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