Artesian Resources (NASDAQ:ARTNA) Announces Quarterly Earnings Results

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

Artesian Resources Trading Up 2.0 %

Shares of ARTNA stock opened at $31.45 on Wednesday. The stock has a market cap of $323.87 million, a P/E ratio of 16.07 and a beta of 0.19. The company has a quick ratio of 1.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.74. Artesian Resources has a fifty-two week low of $29.45 and a fifty-two week high of $41.29. The business has a fifty day simple moving average of $31.43 and a 200-day simple moving average of $33.35.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 7th were issued a $0.3014 dividend. The ex-dividend date was Friday, February 7th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s dividend 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.