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

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

Artesian Resources Trading Up 0.1 %

Shares of ARTNA stock opened at $38.31 on Thursday. The stock has a 50 day simple moving average of $35.71 and a 200 day simple moving average of $38.26. The stock has a market cap of $394.13 million, a P/E ratio of 22.54 and a beta of 0.20. The company has a current ratio of 1.37, a quick ratio of 1.10 and a debt-to-equity ratio of 0.77. Artesian Resources has a 1 year low of $33.42 and a 1 year high of $55.98.

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 given a dividend of $0.296 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Thursday, May 16th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.29. Artesian Resources’s dividend payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARTNA. StockNews.com raised Artesian Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. TheStreet lowered shares of Artesian Resources from a “b-” rating to a “c+” rating in a research report 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.