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

Posted by Joseph McCarthy on Nov 6th, 2024

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

Artesian Resources Trading Up 0.8 %

NASDAQ ARTNA traded up $0.30 during trading hours on Wednesday, hitting $36.38. 21,010 shares of the company’s stock were exchanged, compared to its average volume of 50,089. The business’s 50 day moving average is $36.04 and its 200-day moving average is $36.72. 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 has a 12-month low of $32.93 and a 12-month high of $44.78. The firm has a market capitalization of $374.57 million, a P/E ratio of 18.78 and a beta of 0.21.

Artesian Resources Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Friday, November 15th will be given 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 3.31%. This is an increase from Artesian Resources’s previous quarterly dividend of $0.30. Artesian Resources’s payout ratio is currently 60.51%.

About Artesian Resources

(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.