Artesian Resources (NASDAQ:ARTNA) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Artesian Resources (NASDAQ:ARTNA) posted its quarterly earnings results on Tuesday. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02), Zacks reports. Artesian Resources had a net margin of 20.18% and a return on equity of 9.37%.

Artesian Resources Stock Performance

Shares of NASDAQ ARTNA traded down $0.09 during mid-day trading on Tuesday, hitting $33.63. The company had a trading volume of 24,083 shares, compared to its average volume of 42,353. The stock has a market cap of $347.40 million, a price-to-earnings ratio of 14.69 and a beta of 0.32. Artesian Resources has a 12 month low of $30.50 and a 12 month high of $36.98. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 0.89. The firm’s 50 day simple moving average is $34.20 and its two-hundred day simple moving average is $33.43.

Artesian Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 19th will be issued a $0.3263 dividend. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.3199. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $1.31 annualized dividend and a dividend yield of 3.9%. Artesian Resources’s dividend payout ratio (DPR) is 55.90%.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Artesian Resources from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Artesian Resources Company Profile

Artesian Resources Corporation (NASDAQ: ARTNA) is a regulated water utility holding company headquartered in Newark, Delaware. Through its subsidiaries, the company provides water and wastewater services to residential, commercial, industrial, municipal and governmental customers. Artesian’s principal operating subsidiary, Artesian Water Company, serves customers in Delaware. Related subsidiaries provide regulated water service in Maryland and Pennsylvania, while other operations support wastewater services, water treatment and contract operations.