Artesian Resources (NASDAQ:ARTNA) Issues Quarterly Earnings Results

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

Artesian Resources Stock Performance

Shares of Artesian Resources stock opened at $30.83 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.07 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average price is $31.43 and its 200-day moving average price is $33.35. The firm has a market cap of $317.49 million, a P/E ratio of 15.81 and a beta of 0.19. Artesian Resources has a 12 month low of $29.45 and a 12 month high of $41.29.

Artesian Resources Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were given a dividend of $0.3014 per share. The ex-dividend date was Friday, February 7th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 3.91%. Artesian Resources’s payout ratio is 61.54%.

About Artesian Resources

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.