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

Artesian Resources (NASDAQ:ARTNA) released its quarterly earnings results on Monday. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.02), Yahoo Finance reports. Artesian Resources had a return on equity of 7.57% and a net margin of 17.25%. The company had revenue of $27.42 million for the quarter, compared to analysts’ expectations of $27.00 million.

Artesian Resources Price Performance

ARTNA stock traded down $0.54 on Wednesday, reaching $35.96. The company had a trading volume of 26,665 shares, compared to its average volume of 58,246. Artesian Resources has a 1 year low of $33.34 and a 1 year high of $47.94. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.20 and a current ratio of 1.42. The company’s fifty day moving average is $36.96 and its 200 day moving average is $36.58. The company has a market cap of $369.96 million, a P/E ratio of 21.58 and a beta of 0.19.

Artesian Resources Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Investors of record on Friday, August 16th will be paid a $0.296 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend is Friday, August 16th. Artesian Resources’s payout ratio is currently 69.41%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Artesian Resources from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th.

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.