Artesian Resources (NASDAQ:ARTNA) Announces Quarterly Earnings Results

Artesian Resources (NASDAQ:ARTNA) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate 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 Performance

NASDAQ:ARTNA traded down $0.09 on Tuesday, reaching $33.63. 24,083 shares of the company’s stock were exchanged, compared to its average volume of 42,352. 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 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 52 week low of $30.50 and a 52 week high of $36.98. The stock has a fifty day simple moving average of $34.20 and a 200-day simple moving average of $33.43.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 30th. Shareholders 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 of this dividend is Thursday, November 19th. Artesian Resources’s payout ratio is currently 55.90%.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Artesian Resources from a “hold (c)” rating to a “hold (c+)” rating in a research report on Thursday, September 3rd. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, Artesian Resources currently has an average 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.