Consolidated Water (NASDAQ:CWCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.
According to Zacks, “Consolidated Water’s shares have underperformed the industry in the last six months. Consolidated Water carries risk of failure to renew long term contracts with major customers as well as negative foreign exchange fluctuation hurting performance. Hurricane Irma has affected operations of the company’s water treatment plants but its impact was minimal. Consolidated Water is presently utilizing the most advanced technology to convert seawater to potable water. Apart from expanding organically, the company is also working to broaden its operation through strategic acquisition. To further expand its drinking water and wastewater services, the company is working relentlessly to expand its existing operations in the Cayman Islands, The Bahamas and Belize.”
Several other equities research analysts also recently issued reports on CWCO. TheStreet upgraded shares of Consolidated Water from a “c+” rating to a “b-” rating in a research note on Friday, November 24th. Roth Capital set a $15.00 price objective on shares of Consolidated Water and gave the stock a “buy” rating in a research note on Monday, November 13th.
Consolidated Water (NASDAQ:CWCO) last announced its quarterly earnings results on Thursday, November 9th. The utilities provider reported $0.11 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.03). Consolidated Water had a net margin of 9.72% and a return on equity of 5.28%. The company had revenue of $16.57 million for the quarter, compared to analyst estimates of $15.00 million. analysts expect that Consolidated Water will post 0.54 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in CWCO. Rhumbline Advisers grew its stake in shares of Consolidated Water by 4.1% in the second quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 660 shares during the last quarter. Alliancebernstein L.P. bought a new position in Consolidated Water in the second quarter worth $135,000. Ameriprise Financial Inc. lifted its position in Consolidated Water by 7.1% in the second quarter. Ameriprise Financial Inc. now owns 259,998 shares of the utilities provider’s stock worth $3,223,000 after purchasing an additional 17,218 shares during the period. Nationwide Fund Advisors lifted its position in Consolidated Water by 27.1% in the second quarter. Nationwide Fund Advisors now owns 52,486 shares of the utilities provider’s stock worth $651,000 after purchasing an additional 11,200 shares during the period. Finally, Thrivent Financial For Lutherans lifted its position in Consolidated Water by 1.3% in the second quarter. Thrivent Financial For Lutherans now owns 64,610 shares of the utilities provider’s stock worth $802,000 after purchasing an additional 820 shares during the period. Institutional investors and hedge funds own 49.49% of the company’s stock.
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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