NewJersey Resources (NYSE:NJR) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.55-2.65 for the period, compared to the Thomson Reuters consensus estimate of $1.82.
Shares of NewJersey Resources (NJR) traded down $0.25 on Thursday, reaching $36.45. 418,952 shares of the company were exchanged, compared to its average volume of 783,154. The stock has a market capitalization of $3,193.99, a P/E ratio of 24.14, a P/E/G ratio of 3.38 and a beta of 0.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.46. NewJersey Resources has a 1-year low of $35.55 and a 1-year high of $45.45.
NewJersey Resources (NYSE:NJR) last announced its earnings results on Thursday, February 8th. The utilities provider reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.97. The business had revenue of $705.31 million for the quarter, compared to the consensus estimate of $564.47 million. NewJersey Resources had a net margin of 5.82% and a return on equity of 11.97%. NewJersey Resources’s quarterly revenue was up 30.4% on a year-over-year basis. During the same period last year, the firm posted $0.47 earnings per share. research analysts anticipate that NewJersey Resources will post 1.81 EPS for the current year.
NJR has been the topic of a number of recent analyst reports. ValuEngine downgraded shares of NewJersey Resources from a buy rating to a hold rating in a research note on Friday, December 1st. Zacks Investment Research downgraded shares of NewJersey Resources from a hold rating to a sell rating in a research note on Wednesday, October 25th. Guggenheim reaffirmed a buy rating and issued a $44.00 target price on shares of NewJersey Resources in a research note on Wednesday, January 3rd. TheStreet downgraded shares of NewJersey Resources from a b rating to a c+ rating in a research note on Wednesday, January 3rd. Finally, Janney Montgomery Scott raised shares of NewJersey Resources from a neutral rating to a buy rating in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. NewJersey Resources has an average rating of Buy and a consensus target price of $44.00.
In other NewJersey Resources news, VP Amanda Mullan sold 920 shares of the stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $44.64, for a total transaction of $41,068.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence R. Codey sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $43.13, for a total transaction of $258,780.00. Following the transaction, the director now owns 13,266 shares in the company, valued at $572,162.58. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
NewJersey Resources Company Profile
New Jersey Resources Corporation is an energy services holding company. The Company’s business is the distribution of natural gas through a regulated utility, which provides other retail and wholesale energy services to customers and investing in clean energy projects and midstream assets. It operates in four business segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services and Midstream.
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