Artesian Resources Corporation (ARTNA) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS
Artesian Resources Corporation (NASDAQ:ARTNA) released its quarterly earnings results on Thursday. The utilities provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.03), Bloomberg Earnings reports. Artesian Resources Corporation had a net margin of 16.58% and a return on equity of 9.62%. The business had revenue of $22.36 million during the quarter.
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) traded up $0.77 during midday trading on Friday, reaching $40.86. 8,118 shares of the company were exchanged, compared to its average volume of 21,209. Artesian Resources Corporation has a 1 year low of $27.13 and a 1 year high of $43.22. The firm has a market capitalization of $374.68 million, a price-to-earnings ratio of 28.16 and a beta of 0.09. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.26 and a current ratio of 0.29.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 13th will be given a dividend of $0.2352 per share. The ex-dividend date is Friday, November 10th. This represents a $0.94 dividend on an annualized basis and a yield of 2.30%. This is a positive change from Artesian Resources Corporation’s previous quarterly dividend of $0.23. Artesian Resources Corporation’s dividend payout ratio (DPR) is 65.96%.
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ARTNA has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 24th.
Artesian Resources Corporation Company Profile
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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