$443.89 Million in Sales Expected for New Jersey Resources Co. (NYSE:NJR) This Quarter

Equities analysts predict that New Jersey Resources Co. (NYSE:NJR) will announce sales of $443.89 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for New Jersey Resources’ earnings, with the lowest sales estimate coming in at $421.77 million and the highest estimate coming in at $466.00 million. New Jersey Resources posted sales of $454.31 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.3%. The company is expected to announce its next quarterly earnings results before the market opens on Thursday, February 3rd.

According to Zacks, analysts expect that New Jersey Resources will report full year sales of $2.10 billion for the current financial year, with estimates ranging from $2.02 billion to $2.18 billion. For the next financial year, analysts expect that the company will post sales of $2.14 billion, with estimates ranging from $2.07 billion to $2.22 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover New Jersey Resources.

New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Thursday, November 18th. The utilities provider reported $0.07 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.01). New Jersey Resources had a net margin of 5.47% and a return on equity of 12.16%. The company had revenue of $532.80 million for the quarter, compared to the consensus estimate of $610.33 million. During the same period last year, the company earned $0.57 earnings per share. New Jersey Resources’s revenue for the quarter was up 33.2% compared to the same quarter last year.

Several analysts have recently commented on NJR shares. Mizuho cut shares of New Jersey Resources from a “buy” rating to a “neutral” rating and set a $42.00 price target on the stock. in a research note on Wednesday, January 5th. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Friday, January 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $42.40.

In other news, Director James H. Degraffenreidt, Jr. bought 4,000 shares of the business’s stock in a transaction on Monday, November 29th. The shares were bought at an average cost of $38.04 per share, for a total transaction of $152,160.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.

Several hedge funds have recently modified their holdings of NJR. Crossmark Global Holdings Inc. grew its position in New Jersey Resources by 19.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 8,300 shares of the utilities provider’s stock valued at $341,000 after purchasing an additional 1,330 shares in the last quarter. Segall Bryant & Hamill LLC grew its position in New Jersey Resources by 2.0% in the third quarter. Segall Bryant & Hamill LLC now owns 559,154 shares of the utilities provider’s stock valued at $19,463,000 after purchasing an additional 11,160 shares in the last quarter. Jefferies Group LLC bought a new position in New Jersey Resources in the third quarter valued at $522,000. Strategy Asset Managers LLC grew its position in New Jersey Resources by 7.6% in the third quarter. Strategy Asset Managers LLC now owns 6,683 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 471 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in New Jersey Resources in the third quarter valued at $30,000. 68.76% of the stock is owned by institutional investors.

NJR opened at $39.21 on Friday. New Jersey Resources has a one year low of $34.33 and a one year high of $44.41. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.60 and a quick ratio of 0.40. The company’s 50 day simple moving average is $39.37 and its 200-day simple moving average is $38.52. The stock has a market capitalization of $3.76 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 2.40 and a beta of 0.60.

The company also recently announced a quarterly dividend, which was paid on Monday, January 3rd. Shareholders of record on Wednesday, December 15th were issued a $0.363 dividend. The ex-dividend date of this dividend was Tuesday, December 14th. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.33. This represents a $1.45 annualized dividend and a yield of 3.70%. New Jersey Resources’s dividend payout ratio (DPR) is 118.85%.

New Jersey Resources Company Profile

New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation.

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