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

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

Artesian Resources Stock Performance

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

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 28th. Shareholders of record on Friday, May 17th will be given a $0.296 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.29. The ex-dividend date is Thursday, May 16th. This represents a $1.18 dividend on an annualized basis and a dividend yield of 3.09%. Artesian Resources’s payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ARTNA. TheStreet cut Artesian Resources from a “b-” rating to a “c+” rating in a research note on Monday, February 5th. StockNews.com upgraded Artesian Resources from a “sell” rating to a “hold” rating in a report on Thursday, April 18th.

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.