Artesian Resources (NASDAQ:ARTNA) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

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

Artesian Resources Stock Up 2.0 %

Artesian Resources stock opened at $31.45 on Wednesday. Artesian Resources has a 1-year low of $29.45 and a 1-year high of $41.29. The stock has a market cap of $323.87 million, a PE ratio of 16.07 and a beta of 0.19. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.22 and a quick ratio of 1.07. The stock’s fifty day moving average is $31.43 and its two-hundred day moving average is $33.35.

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Stockholders of record on Friday, February 7th were issued a $0.3014 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 3.83%. This is a positive change from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, February 7th. Artesian Resources’s dividend payout ratio (DPR) is presently 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.