Artesian Resources (ARTNA) Expected to Announce Quarterly Earnings on Monday

Artesian Resources (NASDAQ:ARTNA) will likely be issuing its results before the market opens on Monday, August 3rd. Analysts expect the company to post earnings of $0.59 per share and revenue of $29.80 million for the quarter.

Artesian Resources (NASDAQ:ARTNA) last posted its quarterly earnings data on Tuesday, May 5th. The utilities provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.09. Artesian Resources had a return on equity of 9.61% and a net margin of 20.86%.The firm had revenue of $27.77 million during the quarter, compared to analysts’ expectations of $27.00 million.

Artesian Resources Stock Performance

Shares of ARTNA stock opened at $34.45 on Monday. The firm has a 50-day moving average price of $33.14 and a 200 day moving average price of $32.82. Artesian Resources has a twelve month low of $30.50 and a twelve month high of $34.90. The company has a market capitalization of $355.52 million, a price-to-earnings ratio of 15.24 and a beta of 0.34. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were issued a dividend of $0.3199 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.31. The ex-dividend date was Friday, May 15th. Artesian Resources’s payout ratio is presently 56.64%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Artesian Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 17th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Institutional Investors Weigh In On Artesian Resources

Several hedge funds have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Artesian Resources by 0.7% in the third quarter. Russell Investments Group Ltd. now owns 54,675 shares of the utilities provider’s stock valued at $1,782,000 after purchasing an additional 392 shares during the period. Royal Bank of Canada increased its position in Artesian Resources by 9.0% during the fourth quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider’s stock worth $183,000 after purchasing an additional 480 shares during the last quarter. Osaic Holdings Inc. increased its position in Artesian Resources by 44.6% during the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider’s stock worth $55,000 after purchasing an additional 503 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Artesian Resources by 0.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 62,269 shares of the utilities provider’s stock worth $1,968,000 after purchasing an additional 581 shares during the period. Finally, State Street Corp raised its stake in Artesian Resources by 0.9% during the fourth quarter. State Street Corp now owns 66,690 shares of the utilities provider’s stock worth $2,108,000 after purchasing an additional 589 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

About Artesian Resources

Artesian Resources Corporation (NASDAQ: ARTNA) is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.