Zacks: Analysts Anticipate New Jersey Resources Corp (NYSE:NJR) to Announce $0.30 Earnings Per Share

Equities analysts expect New Jersey Resources Corp (NYSE:NJR) to post $0.30 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for New Jersey Resources’ earnings, with the lowest EPS estimate coming in at $0.28 and the highest estimate coming in at $0.31. New Jersey Resources posted earnings of ($0.33) per share during the same quarter last year, which would suggest a positive year over year growth rate of 190.9%. The company is scheduled to report its next earnings report before the market opens on Tuesday, November 19th.

According to Zacks, analysts expect that New Jersey Resources will report full-year earnings of $1.97 per share for the current financial year, with EPS estimates ranging from $1.94 to $1.99. For the next financial year, analysts anticipate that the business will post earnings of $2.17 per share, with EPS estimates ranging from $2.14 to $2.19. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow New Jersey Resources.

NJR has been the topic of several recent analyst reports. TheStreet downgraded New Jersey Resources from a “b-” rating to a “c+” rating in a research report on Thursday, October 17th. ValuEngine downgraded New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Zacks Investment Research upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th.

NYSE NJR traded down $0.21 during trading hours on Tuesday, hitting $41.06. 368,009 shares of the company’s stock were exchanged, compared to its average volume of 408,716. The business’s 50 day moving average is $43.80 and its 200-day moving average is $47.11. New Jersey Resources has a 12-month low of $40.85 and a 12-month high of $51.83. The firm has a market capitalization of $3.79 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 2.43 and a beta of 0.31. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.62 and a current ratio of 0.88.

In other New Jersey Resources news, CEO Laurence M. Downes sold 22,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $990,000.00. Following the completion of the sale, the chief executive officer now directly owns 405,572 shares in the company, valued at $18,250,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.

A number of large investors have recently made changes to their positions in NJR. Campbell & CO Investment Adviser LLC acquired a new stake in New Jersey Resources during the second quarter worth about $668,000. 6 Meridian increased its stake in New Jersey Resources by 2.1% during the second quarter. 6 Meridian now owns 10,565 shares of the utilities provider’s stock worth $526,000 after acquiring an additional 218 shares during the last quarter. Legacy Advisors LLC increased its stake in New Jersey Resources by 93.9% during the second quarter. Legacy Advisors LLC now owns 25,196 shares of the utilities provider’s stock worth $1,261,000 after acquiring an additional 12,199 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in New Jersey Resources by 1.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 35,957 shares of the utilities provider’s stock worth $1,790,000 after acquiring an additional 607 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its stake in New Jersey Resources by 6.9% during the second quarter. Eqis Capital Management Inc. now owns 8,678 shares of the utilities provider’s stock worth $432,000 after acquiring an additional 563 shares during the last quarter. Institutional investors own 67.04% 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 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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