New Jersey Resources Co. (NYSE:NJR) Expected to Announce Earnings of $0.06 Per Share

Analysts expect New Jersey Resources Co. (NYSE:NJR) to post earnings of $0.06 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for New Jersey Resources’ earnings, with estimates ranging from $0.03 to $0.09. New Jersey Resources posted earnings of $0.57 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 89.5%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 29th.

According to Zacks, analysts expect that New Jersey Resources will report full year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $2.12 to $2.17. For the next financial year, analysts anticipate that the company will post earnings of $2.26 per share, with EPS estimates ranging from $2.24 to $2.30. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for New Jersey Resources.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Thursday, August 5th. The utilities provider reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.08). New Jersey Resources had a return on equity of 14.52% and a net margin of 8.02%. The company had revenue of $367.59 million for the quarter, compared to analyst estimates of $371.53 million. During the same quarter in the prior year, the business posted ($0.06) earnings per share. The business’s revenue for the quarter was up 23.0% compared to the same quarter last year.

A number of equities research analysts have issued reports on the stock. TheStreet cut shares of New Jersey Resources from a “b” rating to a “c” rating in a report on Tuesday, September 7th. Bank of America lowered shares of New Jersey Resources from a “neutral” rating to an “underperform” rating and set a $39.00 target price on the stock. in a research report on Friday, June 25th. Mizuho upped their target price on shares of New Jersey Resources from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, May 27th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Thursday, August 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $42.60.

Shares of New Jersey Resources stock traded down $0.60 during midday trading on Friday, reaching $35.05. 4,452 shares of the company’s stock traded hands, compared to its average volume of 513,924. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.61 and a current ratio of 0.84. New Jersey Resources has a 52 week low of $25.87 and a 52 week high of $44.41. The company’s 50 day simple moving average is $38.18 and its 200 day simple moving average is $40.44. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 20.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.51.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Investors of record on Monday, September 20th will be given a $0.3325 dividend. The ex-dividend date is Friday, September 17th. This represents a $1.33 annualized dividend and a yield of 3.79%. New Jersey Resources’s dividend payout ratio (DPR) is currently 64.56%.

In other New Jersey Resources news, VP Timothy F. Shea sold 10,001 shares of the business’s stock in a transaction on Wednesday, June 23rd. The shares were sold at an average price of $41.35, for a total value of $413,541.35. Following the sale, the vice president now owns 58,406 shares of the company’s stock, valued at approximately $2,415,088.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in NJR. Godsey & Gibb Associates bought a new stake in New Jersey Resources during the 2nd quarter worth approximately $28,000. Baldrige Asset Management LLC acquired a new position in New Jersey Resources in the second quarter worth $36,000. Certified Advisory Corp bought a new stake in shares of New Jersey Resources during the first quarter worth $51,000. Dark Forest Capital Management LP acquired a new stake in shares of New Jersey Resources in the second quarter valued at $55,000. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of New Jersey Resources in the first quarter valued at about $59,000. Hedge funds and other institutional investors own 71.13% of the company’s stock.

New Jersey Resources Company Profile

New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream, and NJR Home Services.

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