Artesian Resources (NASDAQ:ARTNA) Posts Earnings Results, Misses Estimates By $0.02 EPS

Artesian Resources (NASDAQ:ARTNA) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02), Zacks reports. The firm had revenue of $31.95 million for the quarter, compared to analysts’ expectations of $32.20 million. Artesian Resources had a return on equity of 9.37% and a net margin of 20.18%.

Artesian Resources Price Performance

Shares of NASDAQ ARTNA opened at $33.63 on Wednesday. The firm has a market capitalization of $347.30 million, a P/E ratio of 14.69 and a beta of 0.32. Artesian Resources has a one year low of $30.50 and a one year high of $36.98. The company’s fifty day moving average is $34.16 and its two-hundred day moving average is $33.43. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.89 and a current ratio of 1.01.

Artesian Resources Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 19th will be given a dividend of $0.3263 per share. This represents a $1.31 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, November 19th. This is an increase from Artesian Resources’s previous quarterly dividend of $0.3199. Artesian Resources’s payout ratio is presently 55.90%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised Artesian Resources from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company presently has an average rating of “Hold”.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a regulated water utility holding company headquartered in Newark, Delaware. Through its subsidiaries, the company provides water and wastewater services to residential, commercial, industrial, municipal and governmental customers. Artesian’s principal operating subsidiary, Artesian Water Company, serves customers in Delaware. Related subsidiaries provide regulated water service in Maryland and Pennsylvania, while other operations support wastewater services, water treatment and contract operations.