Artesian Resources (NASDAQ:ARTNA) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Artesian Resources (NASDAQ:ARTNA) released its quarterly earnings results on Monday. The utilities provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.05, Zacks reports. Artesian Resources had a return on equity of 7.90% and a net margin of 17.74%. The business had revenue of $29.14 million during the quarter, compared to analyst estimates of $29.00 million.

Artesian Resources Trading Up 0.8 %

NASDAQ ARTNA opened at $36.38 on Thursday. The business’s fifty day moving average is $36.05 and its 200-day moving average is $36.72. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.30 and a quick ratio of 1.09. The stock has a market capitalization of $374.57 million, a price-to-earnings ratio of 18.66 and a beta of 0.21. Artesian Resources has a one year low of $32.93 and a one year high of $44.78.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be given a $0.301 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 3.31%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s payout ratio is currently 60.51%.

Artesian Resources Company Profile

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.