Brokerages expect New Jersey Resources Corp (NYSE:NJR) to announce earnings per share (EPS) of $0.14 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for New Jersey Resources’ earnings, with the lowest EPS estimate coming in at $0.10 and the highest estimate coming in at $0.19. New Jersey Resources reported earnings per share of ($0.09) in the same quarter last year, which suggests a positive year over year growth rate of 255.6%. The business is expected to announce its next earnings report on Tuesday, August 6th.
On average, analysts expect that New Jersey Resources will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.02. For the next fiscal year, analysts expect that the firm will post earnings of $2.20 per share, with EPS estimates ranging from $2.14 to $2.25. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover New Jersey Resources.
New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Friday, May 3rd. The utilities provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.19 by $0.08. New Jersey Resources had a net margin of 4.51% and a return on equity of 8.73%. The company had revenue of $866.26 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business earned $1.62 earnings per share. New Jersey Resources’s revenue was down 15.0% compared to the same quarter last year.
In other New Jersey Resources news, Director David A. Trice sold 12,000 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $49.74, for a total value of $596,880.00. Following the completion of the transaction, the director now directly owns 11,585 shares of the company’s stock, valued at $576,237.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.30% of the company’s stock.
A number of large investors have recently modified their holdings of NJR. Nvwm LLC acquired a new position in New Jersey Resources during the first quarter worth $28,000. CX Institutional acquired a new stake in New Jersey Resources during the first quarter worth about $32,000. Liberty Wealth Management LLC acquired a new stake in New Jersey Resources during the fourth quarter worth about $81,000. World Asset Management Inc acquired a new stake in New Jersey Resources during the first quarter worth about $206,000. Finally, Prospera Financial Services Inc acquired a new stake in New Jersey Resources during the first quarter worth about $212,000. 66.11% of the stock is owned by hedge funds and other institutional investors.
NYSE:NJR traded down $0.36 during trading hours on Friday, reaching $50.00. 12,735 shares of the company’s stock were exchanged, compared to its average volume of 328,580. The stock has a market cap of $4.48 billion, a P/E ratio of 18.27, a P/E/G ratio of 3.57 and a beta of 0.37. New Jersey Resources has a 12 month low of $43.51 and a 12 month high of $51.83. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 0.91. The stock has a 50-day moving average price of $49.48.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 20th will be given a $0.292 dividend. The ex-dividend date is Thursday, September 19th. This represents a $1.17 dividend on an annualized basis and a yield of 2.34%. New Jersey Resources’s dividend payout ratio (DPR) is presently 42.70%.
About New Jersey Resources
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 538,700 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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