Artesian Resources (ARTNA) Expected to Announce Quarterly Earnings on Monday

Key Points

• Artesian Resources (NASDAQ: ARTNA) is set to release its quarterly earnings on August 4th, with expectations of posting earnings of **$0.56** per share and **$29.00 million** in revenue.
• The company recently increased its quarterly dividend to **$0.3074** per share, resulting in a **3.72% dividend yield** and a payout ratio of **59.13%**.
• Hedge funds have significantly increased their holdings in Artesian Resources, with **57.37%** of the stock currently owned by institutional investors and hedge funds.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) will likely be releasing its earnings data before the market opens on Monday, August 4th. Analysts expect Artesian Resources to post earnings of $0.56 per share and revenue of $29.00 million for the quarter.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last announced its earnings results on Monday, May 5th. The utilities provider reported $0.53 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.18. Artesian Resources had a net margin of 19.60% and a return on equity of 8.98%. The business had revenue of $25.89 million during the quarter, compared to the consensus estimate of $25.00 million. On average, analysts expect Artesian Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Artesian Resources Trading Down 1.1%

Shares of NASDAQ:ARTNA traded down $0.37 during midday trading on Thursday, reaching $32.76. The company's stock had a trading volume of 20,226 shares, compared to its average volume of 37,435. The firm has a market capitalization of $337.64 million, a price-to-earnings ratio of 15.75 and a beta of 0.33. The firm has a 50 day moving average price of $33.69 and a two-hundred day moving average price of $32.87. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.77 and a current ratio of 0.98. Artesian Resources has a fifty-two week low of $29.45 and a fifty-two week high of $39.88.

Artesian Resources Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Friday, May 16th were paid a $0.3074 dividend. This is an increase from Artesian Resources's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, May 16th. This represents a $1.23 annualized dividend and a yield of 3.75%. Artesian Resources's dividend payout ratio is presently 59.13%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised shares of Artesian Resources from a "hold" rating to a "buy" rating in a research report on Monday, May 5th.

Hedge Funds Weigh In On Artesian Resources

A number of institutional investors have recently bought and sold shares of ARTNA. Jones Financial Companies Lllp increased its stake in shares of Artesian Resources by 985.2% during the first quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider's stock worth $89,000 after purchasing an additional 2,463 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Artesian Resources by 10.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider's stock worth $2,360,000 after purchasing an additional 6,956 shares during the period. Finally, Jane Street Group LLC boosted its holdings in Artesian Resources by 129.0% during the 1st quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider's stock valued at $1,225,000 after acquiring an additional 21,127 shares during the period. 57.37% of the stock is owned by hedge funds and other institutional investors.

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.