New Jersey Resources (NYSE:NJR – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of 2.850-3.000 for the period, compared to the consensus estimate of 2.930. The company issued revenue guidance of -.
Analyst Ratings Changes
A number of brokerages have weighed in on NJR. StockNews.com raised New Jersey Resources from a sell rating to a hold rating in a research note on Wednesday, February 7th. Mizuho cut their price target on shares of New Jersey Resources from $47.00 to $45.00 and set a neutral rating on the stock in a report on Monday, February 5th.
Read Our Latest Research Report on NJR
New Jersey Resources Stock Up 0.1 %
New Jersey Resources (NYSE:NJR – Get Free Report) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). New Jersey Resources had a return on equity of 11.13% and a net margin of 13.96%. The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $812.66 million. During the same period in the prior year, the firm earned $1.14 EPS. New Jersey Resources’s quarterly revenue was down 35.4% on a year-over-year basis. As a group, sell-side analysts expect that New Jersey Resources will post 2.94 earnings per share for the current year.
New Jersey Resources Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be paid a $0.42 dividend. The ex-dividend date of this dividend is Wednesday, June 12th. This represents a $1.68 annualized dividend and a dividend yield of 3.74%. New Jersey Resources’s dividend payout ratio is currently 68.85%.
New Jersey Resources Company Profile
New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.
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