Wall Street analysts expect South Jersey Industries, Inc. (NYSE:SJI) to announce $0.04 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have made estimates for South Jersey Industries’ earnings. The lowest EPS estimate is ($0.03) and the highest is $0.08. South Jersey Industries reported earnings of $0.12 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 66.7%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, August 3rd.
On average, analysts expect that South Jersey Industries will report full-year earnings of $1.20 per share for the current financial year, with EPS estimates ranging from $1.17 to $1.25. For the next financial year, analysts forecast that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.33 to $1.60. Zacks’ earnings per share averages are an average based on a survey of analysts that cover South Jersey Industries.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Tuesday, May 9th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.81 by $0.09. The firm had revenue of $425.83 million during the quarter, compared to analysts’ expectations of $329.50 million. South Jersey Industries had a net margin of 7.83% and a return on equity of 8.04%. During the same quarter in the previous year, the firm posted $0.80 EPS.
SJI has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, May 2nd. BidaskClub cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $36.00 in a research report on Monday, July 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $37.50.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of South Jersey Industries by 46,816.5% in the first quarter. BlackRock Inc. now owns 9,843,088 shares of the utilities provider’s stock valued at $350,905,000 after buying an additional 9,822,108 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of South Jersey Industries by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,311,983 shares of the utilities provider’s stock valued at $82,422,000 after buying an additional 812,762 shares in the last quarter. Norges Bank acquired a new position in shares of South Jersey Industries during the fourth quarter valued at approximately $18,138,000. Vanguard Group Inc. boosted its position in shares of South Jersey Industries by 6.7% in the first quarter. Vanguard Group Inc. now owns 7,609,432 shares of the utilities provider’s stock valued at $271,277,000 after buying an additional 474,868 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its position in shares of South Jersey Industries by 2,451.8% in the first quarter. Asset Management One Co. Ltd. now owns 154,282 shares of the utilities provider’s stock valued at $5,480,000 after buying an additional 148,236 shares in the last quarter. 69.55% of the stock is owned by institutional investors.
Shares of South Jersey Industries (SJI) traded up 0.65% during mid-day trading on Thursday, hitting $34.19. The company had a trading volume of 180,851 shares. The firm has a 50-day moving average price of $34.44 and a 200 day moving average price of $34.88. South Jersey Industries has a 52-week low of $27.51 and a 52-week high of $38.40. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 31.66 and a beta of 0.78.
About South Jersey Industries
South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).
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