Artesian Resources (ARTNA) Projected to Post Earnings on Monday

Key Points

• Artesian Resources will likely report before the market opens on Monday, May 4, with analysts projecting $0.48 EPS and $27.0M in revenue for the quarter.
• The company beat estimates last quarter (reported $0.40 EPS vs. $0.37 expected) and shows solid profitability (net margin ~20.8%), with a market cap of roughly $331M and a P/E around 14.5.
• Artesian pays a quarterly dividend of $0.3136 (annualized ~$1.25), implying a yield of about 3.9% and a payout ratio near 56%.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) will likely be posting its results before the market opens on Monday, May 4th. Analysts expect Artesian Resources to post earnings of $0.48 per share and revenue of $27.00 million for the quarter.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last issued its quarterly earnings results on Friday, March 13th. The utilities provider reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.03. The company had revenue of $28.02 million during the quarter, compared to the consensus estimate of $28.00 million. Artesian Resources had a return on equity of 9.52% and a net margin of 20.76%.

Artesian Resources Stock Performance

Shares of ARTNA opened at $32.07 on Monday. The stock has a fifty day moving average of $32.64 and a two-hundred day moving average of $32.50. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.52 and a current ratio of 0.64. The company has a market capitalization of $330.96 million, a PE ratio of 14.45 and a beta of 0.37. Artesian Resources has a fifty-two week low of $30.50 and a fifty-two week high of $36.19.

Artesian Resources Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 13th were issued a $0.3136 dividend. The ex-dividend date was Friday, February 13th. This represents a $1.25 annualized dividend and a yield of 3.9%. Artesian Resources's payout ratio is 56.31%.

Institutional Trading of Artesian Resources

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quadrature Capital Ltd increased its holdings in shares of Artesian Resources by 7.0% during the 4th quarter. Quadrature Capital Ltd now owns 10,326 shares of the utilities provider's stock worth $326,000 after buying an additional 679 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Artesian Resources by 4.7% during the 4th quarter. Millennium Management LLC now owns 41,743 shares of the utilities provider's stock worth $1,319,000 after buying an additional 1,891 shares during the last quarter. Trexquant Investment LP increased its holdings in shares of Artesian Resources by 56.5% during the 4th quarter. Trexquant Investment LP now owns 35,579 shares of the utilities provider's stock worth $1,125,000 after buying an additional 12,852 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Artesian Resources by 11.6% during the 4th quarter. Russell Investments Group Ltd. now owns 61,035 shares of the utilities provider's stock worth $1,929,000 after buying an additional 6,360 shares during the last quarter. Finally, Royal Bank of Canada increased its holdings in Artesian Resources by 9.0% in the 4th quarter. Royal Bank of Canada now owns 5,813 shares of the utilities provider's stock valued at $183,000 after purchasing an additional 480 shares in the last quarter. 57.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARTNA shares. Zacks Research upgraded Artesian Resources from a "strong sell" rating to a "hold" rating in a report on Friday, January 30th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Artesian Resources in a report on Wednesday, January 21st. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Artesian Resources Company Profile

Artesian Resources Corporation NASDAQ: ARTNA is a publicly traded water and wastewater utility company headquartered in Wilmington, Delaware. The company provides regulated water distribution and wastewater collection services to residential, commercial and industrial customers. Through its operating subsidiaries, Artesian is subject to oversight by public utility commissions in Delaware, Maryland and Pennsylvania, ensuring the delivery of safe, high-quality water in compliance with state and federal standards.

Traced back to its roots as the Artesian Water Company founded in 1905, the organization has expanded its footprint through a combination of organic growth and strategic acquisitions.

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