Equities analysts predict that Consolidated Water Co. Ltd. (NASDAQ:CWCO) will report $16.05 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Consolidated Water’s earnings, with estimates ranging from $15.00 million to $17.10 million. Consolidated Water reported sales of $14.06 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 14.2%. The company is expected to issue its next earnings report on Thursday, March 15th.
According to Zacks, analysts expect that Consolidated Water will report full-year sales of $16.05 million for the current year, with estimates ranging from $62.00 million to $64.60 million. For the next financial year, analysts forecast that the company will report sales of $65.55 million per share, with estimates ranging from $65.00 million to $66.10 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Consolidated Water.
CWCO has been the subject of a number of research analyst reports. TheStreet lowered Consolidated Water from a “b” rating to a “c+” rating in a research note on Wednesday, November 1st. Roth Capital set a $15.00 target price on Consolidated Water and gave the stock a “buy” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research lowered Consolidated Water from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd were paid a dividend of $0.085 per share. The ex-dividend date was Tuesday, January 2nd. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Consolidated Water’s previous quarterly dividend of $0.08. Consolidated Water’s dividend payout ratio (DPR) is presently 85.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NJ State Employees Deferred Compensation Plan raised its stake in shares of Consolidated Water by 125.0% during the 3rd quarter. NJ State Employees Deferred Compensation Plan now owns 90,000 shares of the utilities provider’s stock valued at $1,152,000 after buying an additional 50,000 shares during the last quarter. Nationwide Fund Advisors raised its stake in shares of Consolidated Water by 27.1% during the 2nd quarter. Nationwide Fund Advisors now owns 52,486 shares of the utilities provider’s stock valued at $651,000 after buying an additional 11,200 shares during the last quarter. First Manhattan Co. raised its stake in shares of Consolidated Water by 7.0% during the 4th quarter. First Manhattan Co. now owns 804,513 shares of the utilities provider’s stock valued at $10,136,000 after buying an additional 52,600 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Consolidated Water by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 278,936 shares of the utilities provider’s stock valued at $3,568,000 after buying an additional 18,938 shares during the last quarter. Finally, Icon Advisers Inc. Co. raised its stake in shares of Consolidated Water by 39.1% during the 3rd quarter. Icon Advisers Inc. Co. now owns 182,342 shares of the utilities provider’s stock valued at $2,334,000 after buying an additional 51,300 shares during the last quarter. Institutional investors and hedge funds own 49.43% of the company’s stock.
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About Consolidated Water
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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