Artesian Resources Corporation (ARTNA) Releases Earnings Results, Misses Expectations By $0.03 EPS

Artesian Resources Corporation (NASDAQ:ARTNA) released its earnings results on Thursday. The utilities provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03), Bloomberg Earnings reports. The company had revenue of $22.36 million for the quarter. Artesian Resources Corporation had a net margin of 16.58% and a return on equity of 9.62%.

Artesian Resources Corporation (NASDAQ:ARTNA) traded up $0.77 during trading on Friday, hitting $40.86. The stock had a trading volume of 8,118 shares, compared to its average volume of 21,209. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.29 and a quick ratio of 0.26. Artesian Resources Corporation has a 12 month low of $27.13 and a 12 month high of $43.22. The firm has a market cap of $374.68 million, a PE ratio of 28.16 and a beta of 0.09.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Stockholders of record on Monday, November 13th will be issued a dividend of $0.2352 per share. The ex-dividend date of this dividend is Friday, November 10th. This represents a $0.94 dividend on an annualized basis and a dividend yield of 2.30%. This is a boost from Artesian Resources Corporation’s previous quarterly dividend of $0.23. Artesian Resources Corporation’s payout ratio is 65.96%.

A number of research firms have recently weighed in on ARTNA. Zacks Investment Research upgraded Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub raised Artesian Resources Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th.

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Artesian Resources Corporation Company Profile

Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.

Earnings History for Artesian Resources Corporation (NASDAQ:ARTNA)

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