Artesian Resources (NASDAQ:ARTNA – Get Free Report) released 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 net margin of 19.76% and a return on equity of 9.25%. The firm had revenue of $31.95 million during the quarter, compared to analysts’ expectations of $32.20 million.
Artesian Resources Stock Down 1.6%
Shares of NASDAQ:ARTNA opened at $33.09 on Thursday. The stock’s 50-day moving average price is $34.11 and its two-hundred day moving average price is $33.43. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.71. Artesian Resources has a 12-month low of $30.50 and a 12-month high of $36.98. The firm has a market cap of $341.82 million, a price-to-earnings ratio of 14.64 and a beta of 0.32.
Artesian Resources Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Shareholders of record on Thursday, November 19th will be paid a $0.3263 dividend. This represents a $1.31 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Thursday, November 19th. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.3199. Artesian Resources’s dividend payout ratio is 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 report on Thursday, September 3rd. Two research analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the stock has an average rating of “Hold”.
Check Out Our Latest Analysis on Artesian Resources
About Artesian Resources
Artesian Resources Corporation is a water and wastewater utility holding company whose principal subsidiary, Artesian Water Company, provides regulated water service. The company treats and distributes water to residential, commercial, industrial and municipal customers, and also provides wastewater collection and treatment services through its wastewater subsidiaries. Founded in 1905, Artesian has grown from a Delaware water company into a regional provider serving communities in Delaware and parts of Maryland and Pennsylvania, primarily on the Delmarva Peninsula.
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