Artesian Resources (ARTNA) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Artesian Resources (NASDAQ:ARTNA) issued its earnings results on Wednesday, May 2nd. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02, Fidelity Earnings reports. The business had revenue of $18.91 million for the quarter. Artesian Resources had a net margin of 17.54% and a return on equity of 10.49%.

NASDAQ ARTNA traded up $36.81 on Friday, hitting $36.81. The stock had a trading volume of 10,800 shares, compared to its average volume of 19,164. Artesian Resources has a one year low of $36.81 and a one year high of $37.54. The company has a current ratio of 0.47, a quick ratio of 0.43 and a debt-to-equity ratio of 0.71. The stock has a market cap of $337.69 million, a price-to-earnings ratio of 16.00 and a beta of 0.09.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Shareholders of record on Monday, May 14th will be given a $0.2387 dividend. This is a boost from Artesian Resources’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Friday, May 11th. This represents a $0.95 annualized dividend and a yield of 2.59%. Artesian Resources’s dividend payout ratio is 41.30%.

In other Artesian Resources news, Director Kenneth R. Biederman sold 6,750 shares of the company’s stock in a transaction dated Monday, March 19th. The shares were sold at an average price of $36.78, for a total value of $248,265.00. Following the completion of the transaction, the director now owns 26,625 shares in the company, valued at approximately $979,267.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 20.59% of the stock is currently owned by corporate insiders.

ARTNA has been the subject of a number of recent research reports. BidaskClub downgraded shares of Artesian Resources from a “sell” rating to a “strong sell” rating in a research report on Saturday, March 3rd. Zacks Investment Research raised shares of Artesian Resources from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Thursday, March 15th.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services on the Delmarva Peninsula. 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 services to customers in Delaware.

Earnings History for Artesian Resources (NASDAQ:ARTNA)

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