New Jersey Resources Corp. (NJR) Issues FY14 Earnings Guidance

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New Jersey Resources Corp. (NYSE:NJR) updated its FY14 earnings guidance on Thursday. The company provided earnings per share guidance of $2.75-2.95 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.84, American Banking & Market News reports.

New Jersey Resources Corp. (NYSE:NJR) opened at 44.18 on Thursday. New Jersey Resources Corp. has a 52-week low of $39.97 and a 52-week high of $47.60. The stock’s 50-day moving average is $45.53 and its 200-day moving average is $44.73. The company has a market cap of $1.857 billion and a P/E ratio of 16.07.

New Jersey Resources Corp. (NYSE:NJR) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.95 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.94 by $0.01. The company had revenue of $878.41 million for the quarter, compared to the consensus estimate of $769.77 million. During the same quarter in the previous year, the company posted $0.85 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Analysts expect that New Jersey Resources Corp. will post $2.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of 0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.80%. The ex-dividend date is Wednesday, March 12th.

On a related note, analysts at Zacks downgraded shares of New Jersey Resources Corp. from an outperform rating to a neutral rating in a research note to investors on Wednesday, December 4th. They now have a $50.50 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $49.17.

New Jersey Resources Corporation (NYSE:NJR) is an energy services holding company providing retail and wholesale energy services to customers in states from the Gulf Coast and Mid-Continent regions to the Appalachian and Northeast regions, the West Coast and Canada.

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