Wall Street brokerages expect New Jersey Resources Corp (NYSE:NJR) to post $592.80 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for New Jersey Resources’ earnings. The highest sales estimate is $597.00 million and the lowest is $588.60 million. New Jersey Resources posted sales of $543.44 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.1%. The business is scheduled to issue its next quarterly earnings report on Tuesday, August 6th.
On average, analysts expect that New Jersey Resources will report full-year sales of $2.70 billion for the current year, with estimates ranging from $2.23 billion to $2.95 billion. For the next year, analysts expect that the business will report sales of $2.85 billion, with estimates ranging from $2.38 billion to $3.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow New Jersey Resources.
New Jersey Resources (NYSE:NJR) last announced its earnings results on Friday, May 3rd. The utilities provider reported $1.27 earnings per share (EPS) for the quarter, topping the Zacks’ 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 period in the prior year, the business earned $1.62 earnings per share. New Jersey Resources’s quarterly revenue was down 15.0% on a year-over-year basis.
In related news, Director David A. Trice sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $49.74, for a total transaction of $596,880.00. Following the completion of the sale, the director now directly owns 11,585 shares of the company’s stock, valued at $576,237.90. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.30% of the company’s stock.
Large investors have recently modified their holdings of the business. Nvwm LLC bought a new stake in New Jersey Resources in the first quarter valued at approximately $28,000. CX Institutional bought a new stake in New Jersey Resources in the first quarter valued at approximately $32,000. Liberty Wealth Management LLC bought a new stake in New Jersey Resources in the fourth quarter valued at approximately $81,000. World Asset Management Inc bought a new stake in New Jersey Resources in the first quarter valued at approximately $206,000. Finally, Prospera Financial Services Inc bought a new stake in New Jersey Resources in the first quarter valued at approximately $212,000. 66.11% of the stock is owned by hedge funds and other institutional investors.
Shares of NJR stock traded down $0.52 during trading hours on Tuesday, reaching $49.84. 276,667 shares of the company were exchanged, compared to its average volume of 328,760. New Jersey Resources has a fifty-two week low of $43.51 and a fifty-two week high of $51.83. The business has a fifty day moving average price of $49.55. The firm has a market cap of $4.45 billion, a P/E ratio of 18.19, a price-to-earnings-growth ratio of 3.56 and a beta of 0.37. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 20th will be paid a dividend of $0.292 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date is Thursday, September 19th. New Jersey Resources’s dividend payout ratio (DPR) is 42.70%.
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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