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 carries risk of failure to renew long term contracts with major customers as well as negative foreign exchange fluctuation hurting performance. Fluctuation in weather conditions and risk of water contamination are other headwinds. Loss in Consolidated Water’s shares were narrower compared with the industry‘s loss in the last month. 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 analysts also recently weighed in on the stock. TheStreet raised 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 target 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 posted its quarterly earnings results on Thursday, November 9th. The utilities provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.03). The business had revenue of $16.57 million during the quarter, compared to the consensus estimate of $15.00 million. Consolidated Water had a return on equity of 5.28% and a net margin of 9.72%. equities research analysts forecast that Consolidated Water will post 0.54 EPS for the current year.
Large investors have recently modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Consolidated Water by 21.0% during the second quarter. Royal Bank of Canada now owns 8,382 shares of the utilities provider’s stock valued at $104,000 after acquiring an additional 1,452 shares during the last quarter. Alliancebernstein L.P. bought a new position in shares of Consolidated Water during the second quarter valued at about $135,000. Essex Financial Services Inc. raised its stake in shares of Consolidated Water by 186.7% during the third quarter. Essex Financial Services Inc. now owns 14,159 shares of the utilities provider’s stock valued at $181,000 after acquiring an additional 9,221 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Consolidated Water by 4.1% during the second quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 660 shares during the last quarter. Finally, Clarus Wealth Advisors bought a new position in shares of Consolidated Water during the fourth quarter valued at about $214,000. 49.43% of the stock is owned by hedge funds and other institutional investors.
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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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