Artesian Resources (NASDAQ:ARTNA) Posts Earnings Results, Beats Expectations By $0.09 EPS

Key Points

• Earnings beat: Artesian Resources reported $0.57 EPS versus a $0.48 consensus, beating by $0.09, and posted a net margin of 20.76% with a return on equity of 9.52%.
• Stock and valuation: ARTNA rose to $31.41 after the report, has a market cap of about $324.1M and a P/E of 14.15, and is trading near its 1‑year low of $30.50 (1‑year high $35.37).
• Analyst and institutional view: the consensus rating is "Hold" after Zacks upgraded to Hold, and roughly 57.37% of the shares are owned by institutional investors.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) issued its quarterly earnings results on Tuesday. The utilities provider reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.48 by $0.09, Zacks reports. Artesian Resources had a net margin of 20.76% and a return on equity of 9.52%.

Artesian Resources Price Performance

ARTNA stock traded up $0.12 on Tuesday, hitting $31.41. 30,196 shares of the company's stock traded hands, compared to its average volume of 57,884. Artesian Resources has a 1-year low of $30.50 and a 1-year high of $35.37. The stock has a market cap of $324.09 million, a price-to-earnings ratio of 14.15 and a beta of 0.33. The stock has a fifty day moving average of $32.48 and a 200-day moving average of $32.46. The company has a current ratio of 0.64, a quick ratio of 0.52 and a debt-to-equity ratio of 0.70.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Zacks Research raised shares of Artesian Resources from a "strong sell" rating to a "hold" rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Artesian Resources in a research note on Wednesday, January 21st. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of "Hold".

Institutional Trading of Artesian Resources

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quarry LP acquired a new stake in Artesian Resources during the third quarter valued at approximately $38,000. Osaic Holdings Inc. lifted its stake in Artesian Resources by 44.6% during 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 during the last quarter. Jones Financial Companies Lllp lifted its stake in Artesian Resources by 985.2% during 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 during the last quarter. BNP Paribas Financial Markets lifted its stake in Artesian Resources by 422.1% during 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 lifted its stake in Artesian Resources by 9.0% during 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 owned by institutional investors and hedge funds.

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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