Artesian Resources (NASDAQ:ARTNA) Releases Earnings Results

Artesian Resources (NASDAQ:ARTNA) posted its quarterly earnings results 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 analyst estimates of $24.00 million.

Artesian Resources Trading Down 0.5 %

Shares of NASDAQ:ARTNA traded down $0.19 during mid-day trading on Wednesday, reaching $38.08. 523 shares of the company were exchanged, compared to its average volume of 35,614. The firm has a market cap of $391.84 million, a price-to-earnings ratio of 23.05 and a beta of 0.20. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.10. Artesian Resources has a 1 year low of $33.42 and a 1 year high of $55.98. The firm’s 50-day simple moving average is $35.63 and its 200 day simple moving average is $38.26.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Stockholders of record on Friday, May 17th will be issued a $0.296 dividend. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.29. This represents a $1.18 annualized dividend and a dividend yield of 3.11%. The ex-dividend date is Thursday, May 16th. Artesian Resources’s dividend payout ratio is currently 69.88%.

Analyst Upgrades and Downgrades

ARTNA has been the topic of several recent analyst reports. StockNews.com upgraded shares of Artesian Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 18th. TheStreet cut Artesian Resources from a “b-” rating to a “c+” rating in a 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.