Zacks: Consolidated Water Co. Ltd. (CWCO) Given Consensus Recommendation of “Strong Buy” by Analysts
Consolidated Water Co. Ltd. (NASDAQ:CWCO) has earned an average broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy rating.
Brokerages have set a 12-month consensus target price of $15.00 for the company and are expecting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also given Consolidated Water Co. an industry rank of 193 out of 265 based on the ratings given to its competitors.
CWCO has been the topic of several research reports. Zacks Investment Research cut Consolidated Water Co. from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet raised Consolidated Water Co. from a “c+” rating to a “b-” rating in a research note on Monday, April 24th.
A number of large investors have recently modified their holdings of the company. First Manhattan Co. boosted its stake in shares of Consolidated Water Co. by 9.3% in the second quarter. First Manhattan Co. now owns 755,813 shares of the utilities provider’s stock valued at $9,372,000 after buying an additional 64,600 shares during the last quarter. Uniplan Investment Counsel Inc. boosted its stake in shares of Consolidated Water Co. by 5.2% in the first quarter. Uniplan Investment Counsel Inc. now owns 468,226 shares of the utilities provider’s stock valued at $5,454,000 after buying an additional 22,947 shares during the last quarter. Parametric Portfolio Associates LLC bought a new stake in shares of Consolidated Water Co. during the first quarter valued at $3,982,000. Ameriprise Financial Inc. boosted its stake in shares of Consolidated Water Co. by 7.1% in the second quarter. Ameriprise Financial Inc. now owns 259,998 shares of the utilities provider’s stock valued at $3,223,000 after buying an additional 17,218 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Consolidated Water Co. by 7.3% in the second quarter. State Street Corp now owns 196,914 shares of the utilities provider’s stock valued at $2,444,000 after buying an additional 13,442 shares during the last quarter. 51.42% of the stock is currently owned by institutional investors.
Shares of Consolidated Water Co. (NASDAQ:CWCO) remained flat at $12.50 during trading on Tuesday. 55,134 shares of the stock traded hands. The company has a market capitalization of $186.25 million, a P/E ratio of 63.13 and a beta of 0.87. Consolidated Water Co. has a 52-week low of $9.80 and a 52-week high of $13.10. The firm’s 50 day moving average price is $12.64 and its 200 day moving average price is $11.72.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 3rd were paid a dividend of $0.075 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.30 annualized dividend and a yield of 2.40%. Consolidated Water Co.’s payout ratio is currently 150.01%.
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About Consolidated Water Co.
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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