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

Artesian Resources (NASDAQ:ARTNA) announced its quarterly earnings data on Tuesday. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01, Zacks reports. Artesian Resources had a return on equity of 8.57% and a net margin of 18.96%. The firm had revenue of $25.00 million during the quarter, compared to analyst estimates of $25.00 million.

Artesian Resources Stock Performance

NASDAQ:ARTNA opened at $31.52 on Thursday. The firm’s 50-day moving average is $31.45 and its 200-day moving average is $33.33. The company has a market cap of $324.59 million, a price-to-earnings ratio of 16.16 and a beta of 0.19. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.07 and a current ratio of 1.22. Artesian Resources has a 52-week low of $29.45 and a 52-week high of $41.29.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were given a dividend of $0.3014 per share. This represents a $1.21 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Friday, February 7th. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s payout ratio is currently 61.54%.

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.