Artesian Resources (ARTNA) Projected to Post Earnings on Monday

Artesian Resources (NASDAQ:ARTNA) is anticipated to issue its results before the market opens on Monday, November 3rd. Analysts expect the company to announce earnings of $0.66 per share and revenue of $30.00 million for the quarter.

Artesian Resources (NASDAQ:ARTNA) last announced its earnings results on Monday, August 4th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Artesian Resources had a net margin of 20.84% and a return on equity of 9.55%. The firm had revenue of $28.55 million for the quarter, compared to analyst estimates of $29.00 million. On average, analysts expect Artesian Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Artesian Resources Stock Down 0.0%

NASDAQ ARTNA opened at $33.37 on Monday. The company has a current ratio of 0.87, a quick ratio of 0.69 and a debt-to-equity ratio of 0.72. The company has a market cap of $344.04 million, a price-to-earnings ratio of 15.38 and a beta of 0.34. The company has a 50 day moving average of $32.88 and a 200-day moving average of $33.49. Artesian Resources has a 1-year low of $29.45 and a 1-year high of $36.67.

Artesian Resources Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Friday, August 15th were paid a dividend of $0.3074 per share. This represents a $1.23 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Friday, August 15th. Artesian Resources’s dividend payout ratio (DPR) is 56.68%.

Insider Activity

In other news, SVP John M. Thaeder sold 1,000 shares of Artesian Resources stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $33.37, for a total value of $33,370.00. Following the transaction, the senior vice president owned 20,592 shares in the company, valued at approximately $687,155.04. This trade represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 20.59% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 worth $89,000 after acquiring an additional 2,463 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Artesian Resources by 10.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,289 shares of the utilities provider’s stock worth $2,360,000 after purchasing an additional 6,956 shares in the last quarter. Jane Street Group LLC lifted its stake in Artesian Resources by 129.0% in the 1st quarter. Jane Street Group LLC now owns 37,508 shares of the utilities provider’s stock valued at $1,225,000 after purchasing an additional 21,127 shares during the last quarter. Creative Planning acquired a new stake in Artesian Resources in the second quarter valued at approximately $267,000. Finally, American Century Companies Inc. increased its holdings in shares of Artesian Resources by 19.2% during the second quarter. American Century Companies Inc. now owns 22,501 shares of the utilities provider’s stock worth $755,000 after buying an additional 3,631 shares in the last quarter. Institutional investors own 57.37% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c-)” rating on shares of Artesian Resources in a research report on Friday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.

Artesian Resources Company Profile

Artesian Resources Corporation, through its subsidiaries, provides water, wastewater, and other services in Delaware, Maryland, and Pennsylvania. The company distributes and sells water to residential, commercial, industrial, governmental, municipal, and utility customers, as well as for public and private fire protection in the states of Delaware, Maryland, and Pennsylvania; and offers wastewater collection, treatment infrastructure, and wastewater services to customers in Delaware.