New Jersey Resources Corp (NYSE:NJR) Expected to Announce Earnings of $0.30 Per Share

Equities research analysts forecast that New Jersey Resources Corp (NYSE:NJR) will post earnings of $0.30 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for New Jersey Resources’ earnings, with the highest EPS estimate coming in at $0.31 and the lowest estimate coming in at $0.28. New Jersey Resources posted earnings per share of ($0.33) in 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 quarterly earnings results 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 forecast that the company will post earnings of $2.17 per share, with EPS estimates ranging from $2.14 to $2.19. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for New Jersey Resources.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings data on Tuesday, August 6th. The utilities provider reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.32). New Jersey Resources had a net margin of 4.90% and a return on equity of 7.93%. The company had revenue of $434.94 million for the quarter, compared to the consensus estimate of $592.80 million. During the same period last year, the business earned ($0.09) EPS. The firm’s quarterly revenue was down 20.0% on a year-over-year basis.

A number of research firms recently weighed in on NJR. ValuEngine lowered New Jersey Resources from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Guggenheim raised New Jersey Resources from a “sell” rating to a “neutral” rating in a research report on Thursday, July 11th. Zacks Investment Research raised New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, TheStreet lowered New Jersey Resources from a “b-” rating to a “c+” rating in a report on Thursday.

In other New Jersey Resources news, CEO Laurence M. Downes sold 22,000 shares of New Jersey Resources stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $45.00, for a total value of $990,000.00. Following the completion of the sale, the chief executive officer now owns 405,572 shares of the company’s stock, valued at approximately $18,250,740. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of New Jersey Resources by 1.5% in the 2nd quarter. BlackRock Inc. now owns 12,449,830 shares of the utilities provider’s stock worth $619,628,000 after purchasing an additional 180,472 shares in the last quarter. Northern Trust Corp increased its holdings in shares of New Jersey Resources by 2.1% in the 2nd quarter. Northern Trust Corp now owns 1,912,744 shares of the utilities provider’s stock worth $95,198,000 after purchasing an additional 38,876 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of New Jersey Resources by 0.4% in the 2nd quarter. Wells Fargo & Company MN now owns 1,266,220 shares of the utilities provider’s stock worth $63,021,000 after purchasing an additional 4,446 shares in the last quarter. Invesco Ltd. increased its holdings in shares of New Jersey Resources by 17.5% in the 2nd quarter. Invesco Ltd. now owns 980,062 shares of the utilities provider’s stock worth $48,778,000 after purchasing an additional 146,311 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of New Jersey Resources by 24.4% in the 2nd quarter. First Trust Advisors LP now owns 757,269 shares of the utilities provider’s stock worth $37,689,000 after purchasing an additional 148,575 shares in the last quarter. 66.95% of the stock is owned by institutional investors and hedge funds.

NJR stock traded up $0.24 on Friday, reaching $43.79. 469,372 shares of the company traded hands, compared to its average volume of 473,686. New Jersey Resources has a one year low of $42.70 and a one year high of $51.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.88 and a quick ratio of 0.62. The company has a market cap of $3.92 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 2.51 and a beta of 0.35. The firm has a fifty day simple moving average of $44.56 and a 200-day simple moving average of $47.71.

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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