Equities research analysts expect South Jersey Industries Inc (NYSE:SJI) to post earnings of ($0.18) per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for South Jersey Industries’ earnings, with the lowest EPS estimate coming in at ($0.30) and the highest estimate coming in at ($0.10). South Jersey Industries posted earnings of ($0.05) per share in the same quarter last year, which would indicate a negative year over year growth rate of 260%. The business is expected to issue its next earnings results on Thursday, November 1st.
On average, analysts expect that South Jersey Industries will report full year earnings of $1.60 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.63. For the next financial year, analysts forecast that the business will post earnings of $1.74 per share, with EPS estimates ranging from $1.66 to $1.86. Zacks’ EPS averages are an average based on a survey of research analysts that follow South Jersey Industries.
South Jersey Industries (NYSE:SJI) last announced its earnings results on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The business had revenue of $227.33 million during the quarter, compared to the consensus estimate of $254.54 million. During the same quarter last year, the firm earned $0.06 earnings per share. South Jersey Industries’s quarterly revenue was down 7.0% on a year-over-year basis.
A number of equities analysts recently weighed in on SJI shares. ValuEngine raised shares of South Jersey Industries from a “hold” rating to a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a research note on Thursday. TheStreet downgraded shares of South Jersey Industries from a “b+” rating to a “c+” rating in a research note on Thursday, August 9th. Morgan Stanley lifted their target price on shares of South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a research note on Monday, July 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a research note on Friday, August 10th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $36.00.
Shares of NYSE SJI opened at $34.35 on Wednesday. South Jersey Industries has a twelve month low of $25.96 and a twelve month high of $36.72. The firm has a market cap of $3.02 billion, a P/E ratio of 28.67, a PEG ratio of 1.80 and a beta of 0.49. The company has a quick ratio of 1.12, a current ratio of 1.15 and a debt-to-equity ratio of 1.08.
In related news, Director Sunita Holzer purchased 1,500 shares of South Jersey Industries stock in a transaction on Monday, August 27th. The stock was acquired at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the acquisition, the director now owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.64% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Hennessy Advisors Inc. grew its holdings in South Jersey Industries by 2.8% in the third quarter. Hennessy Advisors Inc. now owns 368,671 shares of the utilities provider’s stock worth $13,003,000 after purchasing an additional 10,000 shares during the period. United Services Automobile Association grew its holdings in South Jersey Industries by 12.3% in the second quarter. United Services Automobile Association now owns 14,021 shares of the utilities provider’s stock worth $469,000 after purchasing an additional 1,536 shares during the period. Northern Trust Corp grew its holdings in South Jersey Industries by 8.8% in the second quarter. Northern Trust Corp now owns 1,064,690 shares of the utilities provider’s stock worth $35,635,000 after purchasing an additional 86,383 shares during the period. FMR LLC grew its holdings in South Jersey Industries by 79.9% in the second quarter. FMR LLC now owns 3,725,457 shares of the utilities provider’s stock worth $124,692,000 after purchasing an additional 1,655,127 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in South Jersey Industries by 3.7% in the second quarter. Bank of New York Mellon Corp now owns 1,476,797 shares of the utilities provider’s stock worth $49,428,000 after purchasing an additional 53,211 shares during the period. Institutional investors and hedge funds own 85.10% of the company’s stock.
South Jersey Industries Company Profile
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.
See Also: Intrinsic Value
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