Artesian Resources (NASDAQ:ARTNA) Announces Quarterly Earnings Results

Posted by Latisha Jones on Nov 6th, 2024

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

Artesian Resources Stock Performance

Shares of NASDAQ ARTNA traded up $0.18 during mid-day trading on Wednesday, hitting $36.26. The stock had a trading volume of 1,268 shares, compared to its average volume of 49,998. The company has a 50 day moving average of $36.04 and a two-hundred day moving average of $36.72. Artesian Resources has a twelve month low of $32.93 and a twelve month 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. The firm has a market cap of $373.33 million, a PE ratio of 18.50 and a beta of 0.21.

Artesian Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Friday, November 15th will be issued a $0.301 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s dividend payout ratio (DPR) is currently 60.51%.

Artesian Resources Company Profile

(Get Free Report)

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.