NewJersey Resources Corporation (NJR) Releases FY18 Earnings Guidance
NewJersey Resources Corporation (NYSE:NJR) issued an update on its FY18 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.75-1.85 for the period, compared to the Thomson Reuters consensus estimate of $1.87.
NewJersey Resources Corporation (NJR) opened at $44.30 on Tuesday. The firm has a market capitalization of $3,872.60, a P/E ratio of 24.32, a PEG ratio of 3.99 and a beta of 0.45. The company has a current ratio of 0.82, a quick ratio of 0.55 and a debt-to-equity ratio of 0.70. NewJersey Resources Corporation has a 12-month low of $32.75 and a 12-month high of $45.45.
NewJersey Resources Corporation (NYSE:NJR) last released its earnings results on Tuesday, November 21st. The utilities provider reported ($0.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.01). The company had revenue of $536.50 million for the quarter, compared to the consensus estimate of $480.90 million. NewJersey Resources Corporation had a net margin of 8.81% and a return on equity of 12.77%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.03) EPS. analysts forecast that NewJersey Resources Corporation will post 1.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Friday, December 15th will be given a dividend of $0.2725 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.09 annualized dividend and a dividend yield of 2.46%. This is an increase from NewJersey Resources Corporation’s previous quarterly dividend of $0.26. NewJersey Resources Corporation’s payout ratio is currently 48.88%.
NJR has been the topic of several research analyst reports. Argus upped their price objective on NewJersey Resources Corporation from $46.00 to $49.00 and gave the company a buy rating in a research report on Monday, August 28th. Bank of America Corporation upped their price objective on NewJersey Resources Corporation from $35.00 to $38.00 and gave the company an underperform rating in a research report on Wednesday, August 23rd. Zacks Investment Research downgraded NewJersey Resources Corporation from a hold rating to a sell rating in a research report on Wednesday, October 25th. Finally, BidaskClub raised NewJersey Resources Corporation from a sell rating to a hold rating in a research report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average price target of $42.00.
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NewJersey Resources Corporation 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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