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

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

Artesian Resources Stock Performance

Artesian Resources stock opened at $30.83 on Wednesday. The company’s 50-day moving average is $31.43 and its 200 day moving average is $33.35. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 1.07. The firm has a market capitalization of $317.49 million, a P/E ratio of 15.81 and a beta of 0.19. Artesian Resources has a 1-year low of $29.45 and a 1-year high of $41.29.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were paid a $0.3014 dividend. This represents a $1.21 annualized dividend and a dividend yield of 3.91%. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 7th. Artesian Resources’s dividend payout ratio (DPR) is presently 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.