Artesian Resources (NASDAQ:ARTNA) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Artesian Resources (NASDAQ:ARTNA) released its quarterly earnings data on Monday. The utilities provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05, Zacks reports. Artesian Resources had a net margin of 17.74% and a return on equity of 7.90%. The company had revenue of $29.14 million during the quarter, compared to the consensus estimate of $29.00 million.

Artesian Resources Stock Up 0.8 %

ARTNA stock opened at $36.38 on Thursday. The stock has a 50-day simple moving average of $36.05 and a two-hundred day simple moving average of $36.72. Artesian Resources has a twelve month low of $32.93 and a twelve month high of $44.78. The firm has a market capitalization of $374.57 million, a PE ratio of 18.66 and a beta of 0.21. The company has a quick ratio of 1.09, a current ratio of 1.30 and a debt-to-equity ratio of 0.76.

Artesian Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Investors of record on Friday, November 15th will be issued a dividend of $0.301 per share. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a yield of 3.31%. Artesian Resources’s dividend payout ratio is 60.51%.

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.