Analysts Set $15.00 Target Price for Consolidated Water Co. Ltd. (CWCO)
Consolidated Water Co. Ltd. (NASDAQ:CWCO) has received a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy rating.
Brokerages have set a 12 month consensus price objective of $15.00 for the company and are expecting that the company will post $0.18 EPS for the current quarter, according to Zacks. Zacks has also assigned Consolidated Water an industry rank of 207 out of 265 based on the ratings given to its competitors.
Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Consolidated Water from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. TheStreet cut Consolidated Water from a “b” rating to a “c+” rating in a report on Wednesday, November 1st. Finally, Roth Capital set a $15.00 price target on Consolidated Water and gave the stock a “buy” rating in a research note on Monday, November 13th.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 3rd will be given a dividend of $0.085 per share. The ex-dividend date is Tuesday, January 2nd. This is a positive change from Consolidated Water’s previous quarterly dividend of $0.08. This represents a $0.34 dividend on an annualized basis and a yield of 2.66%. Consolidated Water’s payout ratio is 85.00%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its stake in Consolidated Water by 21.0% during the 2nd quarter. Royal Bank of Canada now owns 8,382 shares of the utilities provider’s stock worth $104,000 after buying an additional 1,452 shares during the last quarter. Alliancebernstein L.P. purchased a new position in Consolidated Water during the 2nd quarter worth $135,000. Essex Financial Services Inc. grew its stake in Consolidated Water by 186.7% during the 3rd quarter. Essex Financial Services Inc. now owns 14,159 shares of the utilities provider’s stock worth $181,000 after buying an additional 9,221 shares during the last quarter. Rhumbline Advisers grew its stake in Consolidated Water by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 16,577 shares of the utilities provider’s stock worth $206,000 after buying an additional 660 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Consolidated Water by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 29,865 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 1,242 shares during the last quarter. 48.89% of the stock is owned by hedge funds and other institutional investors.
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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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