Artesian Resources (NASDAQ:ARTNA) Releases Earnings Results, Misses Estimates By $0.02 EPS

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

Artesian Resources Stock Down 0.3%

ARTNA stock traded down $0.09 during trading on Tuesday, reaching $33.63. The stock had a trading volume of 24,083 shares, compared to its average volume of 42,352. Artesian Resources has a one year low of $30.50 and a one year high of $36.98. The company has a quick ratio of 0.89, a current ratio of 1.01 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $34.20 and its two-hundred day moving average is $33.43. The company has a market capitalization of $347.40 million, a price-to-earnings ratio of 14.69 and a beta of 0.32.

Artesian Resources Increases Dividend

The company 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 dividend of $0.3263 per share. This represents a $1.31 annualized dividend and a yield of 3.9%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.3199. The ex-dividend date is Thursday, November 19th. Artesian Resources’s dividend payout ratio is presently 55.90%.

Analyst Upgrades and Downgrades

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. According to MarketBeat, the stock presently has an average rating of “Hold”.

About Artesian Resources

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.