May 28, 2022

Consolidated Water Co. Downgraded by Zacks to “Sell” (CWCO)

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consolidated-water-co-inc-logoFrom ABMN

Consolidated Water Co. logoConsolidated Water Co. (NASDAQ:CWCO) was downgraded by Zacks from a “hold” rating to a “sell” rating in a report issued on Tuesday, MarketBeat.Com reports.

According to Zacks, “Consolidated Water Co. Ltd. intends to develop and operate seawater conversion plants and water distribution systems in areas of the world where naturally-occurring supplies of potable water are scarce or nonexistent. It currently operates a public water utility in certain areas of the Cayman Islands under a 20-year exclusive license from the Government of the Cayman Islands. The company has signed contracts for its first overseas operations in the Commonwealth of the Bahamas. (PRESS RELEASE) “

Separately, Roth Capital reissued a “buy” rating on shares of Consolidated Water Co. in a research note on Wednesday, August 12th.

Consolidated Water Co. (NASDAQ:CWCO) traded down 1.41% on Tuesday, hitting $11.16. 91,801 shares of the company were exchanged. The stock has a 50 day moving average of $11.13 and a 200 day moving average of $11.81. Consolidated Water Co. has a 52 week low of $8.41 and a 52 week high of $13.75. The company has a market capitalization of $164.61 million and a price-to-earnings ratio of 23.74.

Consolidated Water Co. (NASDAQ:CWCO) last announced its earnings results on Tuesday, August 11th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The company had revenue of $14.50 million for the quarter, compared to analyst estimates of $16.40 million. Analysts predict that Consolidated Water Co. will post $0.54 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Thursday, October 1st will be paid a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Tuesday, September 29th.

Consolidated Water Co. Ltd. develops and operates seawater desalination plants (NASDAQ:CWCO) 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. The Company’s retail water operations supply water to end users, including residential, commercial and government customers. Its bulk water operations supply water to government-owned distributors. The Company’s retail and bulk operations serve customers in the Cayman Islands, The Bahamas, Belize, the British Virgin Islands and Indonesia. Its services operations provide engineering and management services, which include the design and construction of desalination plants and the management and operation of desalination plants owned by affiliated companies.

To get a free copy of the research report on Consolidated Water Co. (CWCO), click here. For more information about research offerings from Zacks Investment Research, visit Zacks.com
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