Zacks: Brokerages Set $15.00 Price Target for Consolidated Water Co. Ltd. (CWCO)
Shares of Consolidated Water Co. Ltd. (NASDAQ:CWCO) have earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two 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 forecasting that the company will post $0.14 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Consolidated Water Co. an industry rank of 207 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research lowered shares of Consolidated Water Co. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st.
Consolidated Water Co. (NASDAQ CWCO) traded up 2.46% on Friday, hitting $12.50. 107,273 shares of the company were exchanged. The firm’s 50 day moving average is $12.33 and its 200 day moving average is $11.90. Consolidated Water Co. has a 52 week low of $9.80 and a 52 week high of $13.10. The company has a market capitalization of $186.25 million, a P/E ratio of 63.13 and a beta of 0.89.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Monday, October 2nd will be given a dividend of $0.075 per share. The ex-dividend date is Friday, September 29th. This represents a $0.30 annualized dividend and a yield of 2.40%. Consolidated Water Co.’s dividend payout ratio is presently 150.01%.
Several hedge funds and other institutional investors have recently made changes to their positions in CWCO. American International Group Inc. grew its position in shares of Consolidated Water Co. by 7.1% in the first quarter. American International Group Inc. now owns 8,953 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 593 shares during the period. Royal Bank of Canada grew its position in shares of Consolidated Water Co. by 21.0% in the second quarter. Royal Bank of Canada now owns 8,382 shares of the utilities provider’s stock valued at $104,000 after purchasing an additional 1,452 shares during the period. Brandes Investment Partners LP acquired a new stake in shares of Consolidated Water Co. in the first quarter valued at about $124,000. Alliancebernstein L.P. acquired a new stake in shares of Consolidated Water Co. in the second quarter valued at about $135,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Consolidated Water Co. in the first quarter valued at about $196,000. Institutional investors and hedge funds own 45.72% of the company’s stock.
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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