Wall Street analysts forecast that Consolidated Water Co. Ltd. (NASDAQ:CWCO) will post $15.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Consolidated Water’s earnings, with estimates ranging from $15.00 million to $16.90 million. Consolidated Water reported sales of $14.77 million during the same quarter last year, which would suggest a positive year over year growth rate of 8%. The firm is expected to issue its next earnings report on Thursday, May 9th.
On average, analysts expect that Consolidated Water will report full year sales of $64.50 million for the current year, with estimates ranging from $64.00 million to $65.00 million. For the next fiscal year, analysts forecast that the business will report sales of $67.00 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Consolidated Water.
A number of research firms have recently weighed in on CWCO. ValuEngine downgraded shares of Consolidated Water from a “buy” rating to a “hold” rating in a research note on Sunday, February 10th. Zacks Investment Research downgraded shares of Consolidated Water from a “buy” rating to a “hold” rating in a research note on Thursday, January 3rd.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Consolidated Water by 8.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 1,147,381 shares of the utilities provider’s stock valued at $13,379,000 after purchasing an additional 89,192 shares in the last quarter. BlackRock Inc. boosted its position in Consolidated Water by 3.8% during the 4th quarter. BlackRock Inc. now owns 836,911 shares of the utilities provider’s stock worth $9,758,000 after buying an additional 30,836 shares during the period. Morgan Stanley boosted its position in Consolidated Water by 1.0% during the 3rd quarter. Morgan Stanley now owns 723,082 shares of the utilities provider’s stock worth $10,014,000 after buying an additional 6,815 shares during the period. Renaissance Technologies LLC boosted its position in Consolidated Water by 1.9% during the 3rd quarter. Renaissance Technologies LLC now owns 385,303 shares of the utilities provider’s stock worth $5,336,000 after buying an additional 7,203 shares during the period. Finally, Northern Trust Corp boosted its position in Consolidated Water by 2.7% during the 2nd quarter. Northern Trust Corp now owns 175,189 shares of the utilities provider’s stock worth $2,260,000 after buying an additional 4,626 shares during the period. Institutional investors own 54.09% of the company’s stock.
CWCO opened at $12.83 on Friday. Consolidated Water has a 1-year low of $10.76 and a 1-year high of $15.35. The company has a market capitalization of $196.63 million, a PE ratio of 18.87, a P/E/G ratio of 2.31 and a beta of 0.82.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 1st will be paid a $0.085 dividend. The ex-dividend date of this dividend is Friday, March 29th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 2.65%. Consolidated Water’s payout ratio is currently 50.00%.
Consolidated Water Company Profile
Consolidated Water Co Ltd., together with its subsidiaries, develops and operates seawater desalination plants and water distribution systems in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands, Mexico, the United States, and Indonesia. The company operates through four segments: Retail, Bulk, Services, and Manufacturing.
See Also: FAANG Stocks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Consolidated Water Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Consolidated Water and related companies with MarketBeat.com's FREE daily email newsletter.