In the latest trading session, Consolidated Water (CWCO) closed at $24.03, marking a +0.25% move from the previous day. The stock outperformed the S&P 500, which registered a daily loss of 0.17%. Elsewhere, the Dow lost 0.39%, while the tech-heavy Nasdaq lost 0.05%.

The the stock of developer and operator of desalination plants has fallen by 17.63% in the past month, lagging the Utilities sector's of 0% and the S&P 500's loss of 3.94%.

Market participants will be closely following the financial results of Consolidated Water in its upcoming release. On that day, Consolidated Water is projected to report earnings of $0.22 per share, which would represent a year-over-year decline of 48.84%. Meanwhile, our latest consensus estimate is calling for revenue of $32.37 million, down 18.44% from the prior-year quarter.

For the full year, the Zacks Consensus Estimates are projecting earnings of $0.90 per share and revenue of $130.18 million, which would represent changes of -19.64% and -2.82%, respectively, from the prior year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Consolidated Water. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 35.95% lower. At present, Consolidated Water boasts a Zacks Rank of #3 (Hold).

Digging into valuation, Consolidated Water currently has a Forward P/E ratio of 26.73. This indicates a premium in contrast to its industry's Forward P/E of 22.86.

The Utility - Water Supply industry is part of the Utilities sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 35% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CWCO in the coming trading sessions, be sure to utilize Zacks.com.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Consolidated Water Co. Ltd. (CWCO) : Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research