Artesian Resources (NASDAQ:ARTNA) Issues Quarterly Earnings Results

Artesian Resources (NASDAQ:ARTNA) announced its earnings results on Monday. The utilities provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 Trading Up 0.8 %

ARTNA traded up $0.28 during mid-day trading on Thursday, reaching $36.66. The stock had a trading volume of 1,040 shares, compared to its average volume of 49,861. The firm’s fifty day simple moving average is $36.05 and its two-hundred day simple moving average is $36.72. The stock has a market capitalization of $377.45 million, a P/E ratio of 18.66 and a beta of 0.21. Artesian Resources has a 52 week low of $32.93 and a 52 week high of $44.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.09 and a current ratio of 1.30.

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.301 per share. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 annualized dividend and a yield of 3.28%. Artesian Resources’s dividend payout ratio is currently 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.