NewJersey Resources (NJR) Releases FY18 Earnings Guidance

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.

The business also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Thursday, March 15th will be paid a $0.2725 dividend. This represents a $1.09 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date is Wednesday, March 14th. NewJersey Resources’s dividend payout ratio is currently 71.71%.

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.

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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.

Earnings History and Estimates for NewJersey Resources (NYSE:NJR)

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