Artesian Resources (ARTNA) to Release Earnings on Monday

Key Points

• Artesian Resources is expected to report earnings before the market opens on Monday, August 3. Analysts project quarterly earnings of $0.59 per share on revenue of $29.80 million.
• The company’s previous results exceeded expectations, with earnings of $0.57 per share versus the $0.48 consensus estimate and revenue of $27.77 million versus $27.00 million expected.
• Artesian recently increased its quarterly dividend to $0.3199 per share, equivalent to a 3.7% yield, while analysts maintain a consensus Hold rating.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) is projected to issue its results before the market opens on Monday, August 3rd. Analysts expect the company to announce earnings of $0.59 per share and revenue of $29.80 million for the quarter.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last issued its earnings results on Tuesday, May 5th. The utilities provider reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.09. Artesian Resources had a net margin of 20.86% and a return on equity of 9.61%. The company had revenue of $27.77 million for the quarter, compared to analyst estimates of $27.00 million.

Artesian Resources Stock Performance

Shares of Artesian Resources stock opened at $34.45 on Monday. Artesian Resources has a 12-month low of $30.50 and a 12-month high of $34.90. The company has a current ratio of 1.01, a quick ratio of 0.89 and a debt-to-equity ratio of 0.73. The stock has a market cap of $355.52 million, a PE ratio of 15.24 and a beta of 0.34. The company has a 50-day moving average of $33.14 and a two-hundred day moving average of $32.82.

Artesian Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Friday, May 15th were paid a dividend of $0.3199 per share. This is a positive change from Artesian Resources's previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.28 annualized dividend and a dividend yield of 3.7%. Artesian Resources's dividend payout ratio is presently 56.64%.

Institutional Investors Weigh In On Artesian Resources

Several institutional investors and hedge funds have recently made changes to their positions in ARTNA. Quarry LP purchased a new position in Artesian Resources during the 3rd quarter valued at about $38,000. Osaic Holdings Inc. lifted its holdings in shares of Artesian Resources by 44.6% in the second quarter. Osaic Holdings Inc. now owns 1,632 shares of the utilities provider's stock valued at $55,000 after purchasing an additional 503 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Artesian Resources by 985.2% in the first quarter. Jones Financial Companies Lllp now owns 2,713 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 2,463 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Artesian Resources by 422.1% in the second quarter. BNP Paribas Financial Markets now owns 3,717 shares of the utilities provider's stock valued at $125,000 after purchasing an additional 3,005 shares during the last quarter. Finally, Royal Bank of Canada grew its position in shares of Artesian Resources by 9.0% in the fourth 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 during the last quarter. 57.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded Artesian Resources from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Artesian Resources has an average rating of "Hold".

About Artesian Resources

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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