Zacks: Brokerages Expect South Jersey Industries Inc (SJI) Will Post Earnings of -$0.19 Per Share

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Wall Street brokerages expect South Jersey Industries Inc (NYSE:SJI) to announce earnings per share (EPS) of ($0.19) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for South Jersey Industries’ earnings, with estimates ranging from ($0.30) to ($0.11). South Jersey Industries reported earnings of ($0.05) per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 280%. The business is expected to report its next earnings results on Thursday, November 1st.

According to Zacks, 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 firm will post earnings of $1.74 per share, with EPS estimates ranging from $1.66 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover South Jersey Industries.

South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.03. South Jersey Industries had a positive return on equity of 11.36% and a negative net margin of 1.22%. The company had revenue of $227.33 million during the quarter, compared to analysts’ expectations of $254.54 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis.

A number of equities research analysts have weighed in on the company. ValuEngine upgraded South Jersey Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Zacks Investment Research upgraded South Jersey Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Thursday, October 11th. Morgan Stanley set a $36.00 price objective on South Jersey Industries and gave the company a “hold” rating in a research note on Thursday, October 11th. TheStreet cut South Jersey Industries from a “b+” rating to a “c+” rating in a research note on Thursday, August 9th. Finally, Bank of America initiated coverage on South Jersey Industries in a research note on Monday, July 30th. They issued a “neutral” rating and a $34.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. South Jersey Industries presently has an average rating of “Buy” and a consensus target price of $36.00.

NYSE SJI traded down $0.33 on Wednesday, reaching $35.13. The stock had a trading volume of 450,700 shares, compared to its average volume of 708,387. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 1.08. South Jersey Industries has a 12-month low of $25.96 and a 12-month high of $36.72. The stock has a market cap of $3.02 billion, a P/E ratio of 28.56, a P/E/G ratio of 1.80 and a beta of 0.49.

In related news, Director Sunita Holzer purchased 1,500 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was acquired at an average price of $32.88 per share, for a total transaction of $49,320.00. Following the completion of the purchase, the director now directly owns 25,866 shares of the company’s stock, valued at $850,474.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.64% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its position in South Jersey Industries by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 112,767 shares of the utilities provider’s stock worth $3,771,000 after acquiring an additional 4,547 shares in the last quarter. Macquarie Group Ltd. raised its position in South Jersey Industries by 10.5% in the second quarter. Macquarie Group Ltd. now owns 1,834,091 shares of the utilities provider’s stock worth $61,387,000 after acquiring an additional 173,883 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in South Jersey Industries by 14.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 602,135 shares of the utilities provider’s stock worth $20,154,000 after acquiring an additional 77,490 shares in the last quarter. Comerica Bank raised its position in South Jersey Industries by 4.9% in the second quarter. Comerica Bank now owns 105,807 shares of the utilities provider’s stock worth $3,565,000 after acquiring an additional 4,933 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in South Jersey Industries by 9.0% in the second quarter. MetLife Investment Advisors LLC now owns 40,987 shares of the utilities provider’s stock worth $1,372,000 after acquiring an additional 3,380 shares in the last quarter. 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.

Read More: Book Value Of Equity Per Share – BVPS Explained

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Earnings History and Estimates for South Jersey Industries (NYSE:SJI)

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