Artesian Resources (ARTNA) Expected to Post Quarterly Earnings on Thursday

Key Points

• Artesian Resources is expected to report quarterly results after Thursday’s market close, with analysts forecasting earnings of $0.67 per share and revenue of $32.20 million.
• In the prior quarter, the water utility beat expectations, reporting EPS of $0.64 versus the $0.59 consensus and revenue of $30.66 million compared with estimates of $29.80 million.
• The company pays an annualized dividend of $1.28 per share, yielding approximately 3.9%; analysts maintain a consensus “Hold” rating, while shares were recently trading down 1.4%.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) will likely be posting its results after the market closes on Thursday, October 29th. Analysts expect the company to post earnings of $0.67 per share and revenue of $32.20 million for the quarter.

Artesian Resources (NASDAQ:ARTNA - Get Free Report) last released its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.05. The business had revenue of $30.66 million during the quarter, compared to analyst estimates of $29.80 million. Artesian Resources had a net margin of 20.18% and a return on equity of 9.37%.

Artesian Resources Trading Down 1.4%

Artesian Resources stock opened at $32.96 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 0.89. The company has a market capitalization of $340.48 million, a price-to-earnings ratio of 14.39 and a beta of 0.34. Artesian Resources has a one year low of $30.50 and a one year high of $36.98. The company's fifty day moving average price is $34.64 and its two-hundred day moving average price is $33.58.

Artesian Resources Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Monday, August 17th were given a $0.3199 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.9%. Artesian Resources's payout ratio is currently 55.90%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Artesian Resources from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, September 3rd. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Artesian Resources Company Profile

Artesian Resources Corporation is a regulated water utility holding company headquartered in Newark, Delaware. Through its subsidiaries, the company provides water and wastewater services to residential, commercial, industrial and governmental customers in Delaware, Maryland and Pennsylvania.

Artesian's principal business is the operation and maintenance of water supply and distribution systems, including the treatment and delivery of potable water. Its subsidiaries also provide wastewater collection and treatment, contract operations, water service management, engineering and other related services.

Founded in 1905, Artesian has expanded from its original Delaware operations to serve communities across the Delmarva Peninsula.

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