Artesian Resources (NASDAQ:ARTNA) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Artesian Resources (NASDAQ:ARTNA) issued its earnings results on Monday. The utilities provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01, Yahoo Finance reports. Artesian Resources had a net margin of 16.89% and a return on equity of 7.62%. The business had revenue of $24.54 million for the quarter, compared to the consensus estimate of $24.00 million.

Artesian Resources Price Performance

Shares of ARTNA stock traded down $0.19 on Wednesday, hitting $38.08. 523 shares of the company’s stock were exchanged, compared to its average volume of 35,614. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.10. The stock has a market cap of $391.84 million, a P/E ratio of 23.05 and a beta of 0.20. Artesian Resources has a 12 month low of $33.42 and a 12 month high of $55.98. The company has a 50 day moving average of $35.63 and a 200 day moving average of $38.26.

Artesian Resources Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.296 per share. The ex-dividend date of this dividend is Thursday, May 16th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a yield of 3.11%. Artesian Resources’s dividend payout ratio is presently 69.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. StockNews.com raised Artesian Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. TheStreet lowered shares of Artesian Resources from a “b-” rating to a “c+” rating in a research note on Monday, February 5th.

About Artesian Resources

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.