Wall Street analysts expect New Jersey Resources Corp (NYSE:NJR) to post earnings per share of ($0.42) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for New Jersey Resources’ earnings, with the lowest EPS estimate coming in at ($0.45) and the highest estimate coming in at ($0.40). New Jersey Resources posted earnings of ($0.14) per share during the same quarter last year, which suggests a negative year-over-year growth rate of 200%. The company is scheduled to announce its next earnings report before the market opens on Tuesday, November 20th.
According to Zacks, analysts expect that New Jersey Resources will report full year earnings of $2.65 per share for the current year, with EPS estimates ranging from $2.63 to $2.67. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.01 per share, with EPS estimates ranging from $1.95 to $2.13. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for New Jersey Resources.
New Jersey Resources (NYSE:NJR) last posted its earnings results on Tuesday, August 7th. The utilities provider reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The business had revenue of $543.44 million for the quarter, compared to analyst estimates of $496.70 million. New Jersey Resources had a return on equity of 18.68% and a net margin of 7.60%. During the same period in the previous year, the firm posted $0.20 earnings per share.
Several analysts recently issued reports on the company. ValuEngine upgraded New Jersey Resources from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Wells Fargo & Co boosted their price target on New Jersey Resources from $45.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Guggenheim downgraded New Jersey Resources from a “buy” rating to a “neutral” rating in a research note on Monday, September 10th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded New Jersey Resources from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Thursday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $47.50.
NJR traded up $0.39 during trading on Friday, hitting $47.50. The stock had a trading volume of 231,651 shares, compared to its average volume of 451,318. The company has a market capitalization of $4.17 billion, a PE ratio of 27.46, a price-to-earnings-growth ratio of 3.37 and a beta of 0.21. New Jersey Resources has a one year low of $35.55 and a one year high of $47.93. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.45 and a quick ratio of 1.16.
Several large investors have recently added to or reduced their stakes in NJR. Sei Investments Co. lifted its position in shares of New Jersey Resources by 115.2% during the 1st quarter. Sei Investments Co. now owns 3,282 shares of the utilities provider’s stock valued at $132,000 after acquiring an additional 1,757 shares during the period. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of New Jersey Resources by 1,551.6% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,746 shares of the utilities provider’s stock valued at $310,000 after acquiring an additional 7,277 shares during the period. LPL Financial LLC lifted its position in shares of New Jersey Resources by 42.3% during the 1st quarter. LPL Financial LLC now owns 12,711 shares of the utilities provider’s stock valued at $510,000 after acquiring an additional 3,780 shares during the period. Guggenheim Capital LLC lifted its position in shares of New Jersey Resources by 101.1% during the 1st quarter. Guggenheim Capital LLC now owns 41,174 shares of the utilities provider’s stock valued at $1,651,000 after acquiring an additional 20,700 shares during the period. Finally, Royal Bank of Canada lifted its position in shares of New Jersey Resources by 20.9% during the 1st quarter. Royal Bank of Canada now owns 63,690 shares of the utilities provider’s stock valued at $2,554,000 after acquiring an additional 10,989 shares during the period. Hedge funds and other institutional investors own 66.80% of the company’s stock.
New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 529,800 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.
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