Consolidated Water Falls as Quarterly Earnings Estimates Weaken
The desalination plant operator fell more than major indexes, while analyst consensus points to lower quarterly earnings and revenue.
Consolidated Water closed at $27.53, down 1.18% from the previous trading session. The drop exceeded losses in the S&P 500, Dow and Nasdaq, which fell 0.77%, 0.67% and 0.92%, respectively.
The stock has fallen 6.35% over the past month, compared with a 7.72% decline for the Utilities sector. The S&P 500 gained 0.96% during the same period. Consolidated Water develops and operates desalination plants.
Ahead of the company’s upcoming earnings release, Zacks consensus estimates call for quarterly earnings of $0.24 per share. That would be a 29.41% decline from the same quarter last year. The consensus revenue estimate is $32.62 million, down 7.12%.
For the full year, Zacks estimates earnings of $0.95 per share and revenue of $128.36 million. Those figures would be down 18.1% and 2.81%, respectively, from the previous year. The consensus estimate for quarterly earnings per share has not changed in the past month.
Consolidated Water’s forward price-to-earnings ratio is 29.33, compared with an industry average of 21.51, according to the article.
This article was produced with the help of AI technology.
Source: Yahoo Finance
