Zacks: Artesian Resources Corporation (ARTNA) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of Artesian Resources Corporation (NASDAQ:ARTNA) have been assigned a consensus broker rating score of 3.00 (Hold) from the one brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation.
Zacks has also given Artesian Resources Corporation an industry rank of 118 out of 265 based on the ratings given to related companies.
A number of brokerages have recently issued reports on ARTNA. Zacks Investment Research upgraded shares of Artesian Resources Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, October 10th. BidaskClub lowered shares of Artesian Resources Corporation from a “hold” rating to a “sell” rating in a research report on Friday, August 11th.
Artesian Resources Corporation (NASDAQ ARTNA) traded up $1.12 during mid-day trading on Thursday, hitting $39.57. 16,935 shares of the company were exchanged, compared to its average volume of 22,910. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.71 and a quick ratio of 0.64. Artesian Resources Corporation has a 12-month low of $29.36 and a 12-month high of $43.22. The stock has a market capitalization of $362.72, a price-to-earnings ratio of 27.67 and a beta of 0.09.
Artesian Resources Corporation (NASDAQ:ARTNA) last announced its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $0.42 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The company had revenue of $22.36 million during the quarter. Artesian Resources Corporation had a net margin of 15.96% and a return on equity of 9.18%. sell-side analysts forecast that Artesian Resources Corporation will post 1.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 22nd. Investors of record on Monday, November 13th will be issued a dividend of $0.2352 per share. The ex-dividend date is Friday, November 10th. This is an increase from Artesian Resources Corporation’s previous quarterly dividend of $0.23. This represents a $0.94 annualized dividend and a dividend yield of 2.38%. Artesian Resources Corporation’s dividend payout ratio (DPR) is currently 66.67%.
In related news, Director Kenneth R. Biederman sold 2,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $39.05, for a total transaction of $78,100.00. Following the completion of the sale, the director now directly owns 21,875 shares of the company’s stock, valued at $854,218.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 20.59% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Numeric Investors LLC acquired a new stake in Artesian Resources Corporation in the second quarter valued at $336,000. Strs Ohio increased its position in shares of Artesian Resources Corporation by 5.9% in the second quarter. Strs Ohio now owns 9,000 shares of the utilities provider’s stock valued at $338,000 after buying an additional 500 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Artesian Resources Corporation by 35.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 19,700 shares of the utilities provider’s stock valued at $742,000 after buying an additional 5,200 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Artesian Resources Corporation by 56.5% in the second quarter. Janney Montgomery Scott LLC now owns 22,008 shares of the utilities provider’s stock valued at $828,000 after buying an additional 7,942 shares in the last quarter. Finally, Thrivent Financial For Lutherans increased its position in shares of Artesian Resources Corporation by 10.1% in the second quarter. Thrivent Financial For Lutherans now owns 82,210 shares of the utilities provider’s stock valued at $3,094,000 after buying an additional 7,520 shares in the last quarter. 39.95% of the stock is owned by institutional investors.
Artesian Resources Corporation Company Profile
Artesian Resources Corporation is a holding company. The Company’s subsidiaries offer water, wastewater and other services on the Delmarva Peninsula. The Company distributes and sells water, including water for public and private fire protection, to residential, commercial, industrial, municipal and utility customers in the states of Delaware, Maryland and Pennsylvania.
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