Zacks: Brokerages Anticipate South Jersey Industries Inc (SJI) to Post $0.41 Earnings Per Share

Wall Street analysts expect that South Jersey Industries Inc (NYSE:SJI) will report earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for South Jersey Industries’ earnings. South Jersey Industries posted earnings of $0.42 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The business is expected to report its next quarterly earnings report on Thursday, February 22nd.

On average, analysts expect that South Jersey Industries will report full year earnings of $1.16 per share for the current fiscal year, with EPS estimates ranging from $1.14 to $1.21. For the next financial year, analysts forecast that the business will report earnings of $1.44 per share, with EPS estimates ranging from $1.39 to $1.47. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow South Jersey Industries.

South Jersey Industries (NYSE:SJI) last issued its earnings results on Thursday, November 2nd. The utilities provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.04). South Jersey Industries had a return on equity of 7.16% and a net margin of 3.13%. The company had revenue of $227.13 million for the quarter, compared to the consensus estimate of $222.92 million.

Several equities analysts have recently weighed in on the company. Janney Montgomery Scott reiterated a “buy” rating on shares of South Jersey Industries in a report on Tuesday, October 17th. Zacks Investment Research lowered South Jersey Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, September 12th. Guggenheim reissued a “hold” rating and issued a $32.00 target price on shares of South Jersey Industries in a research report on Wednesday, January 3rd. Morgan Stanley dropped their target price on South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Finally, Sidoti lowered South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 target price on the stock. in a research report on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $35.83.

South Jersey Industries (NYSE SJI) traded down $0.17 during trading hours on Tuesday, hitting $30.51. The stock had a trading volume of 380,800 shares, compared to its average volume of 391,440. South Jersey Industries has a fifty-two week low of $29.84 and a fifty-two week high of $38.40. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.47 and a quick ratio of 0.38. The company has a market cap of $2,430.00, a PE ratio of 63.56, a PEG ratio of 2.13 and a beta of 0.71.

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Monday, December 11th were given a dividend of $0.28 per share. This is a positive change from South Jersey Industries’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, December 8th. This represents a $1.12 annualized dividend and a dividend yield of 3.67%. South Jersey Industries’s payout ratio is 233.33%.

Several large investors have recently bought and sold shares of SJI. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in South Jersey Industries by 9.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,025 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 262 shares during the period. WFG Advisors LP boosted its stake in South Jersey Industries by 8.0% in the 2nd quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock valued at $108,000 after purchasing an additional 234 shares during the period. San Francisco Sentry Investment Group CA bought a new stake in South Jersey Industries in the 3rd quarter valued at $110,000. Public Employees Retirement System of Ohio boosted its stake in South Jersey Industries by 0.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,585 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 29 shares during the period. Finally, Captrust Financial Advisors bought a new stake in South Jersey Industries in the 2nd quarter valued at $129,000. 70.35% of the stock is currently owned by hedge funds and other institutional investors.

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South Jersey Industries Company Profile

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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