New Jersey Resources (NJR) Set to Announce Earnings on Friday

New Jersey Resources (NYSE:NJR) is scheduled to post its quarterly earnings results before the market opens on Friday, May 3rd. Analysts expect New Jersey Resources to post earnings of $1.15 per share for the quarter. New Jersey Resources has set its FY 2019 guidance at $1.95-2.05 EPS and its FY19 guidance at $1.95 to $2.05 EPS.

New Jersey Resources (NYSE:NJR) last posted its quarterly earnings results on Wednesday, February 6th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.08). The company had revenue of $811.77 million during the quarter, compared to analysts’ expectations of $712.00 million. New Jersey Resources had a return on equity of 10.92% and a net margin of 6.49%. New Jersey Resources’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. On average, analysts expect New Jersey Resources to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE NJR opened at $49.51 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.05 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $4.32 billion, a PE ratio of 18.07, a P/E/G ratio of 3.46 and a beta of 0.34. New Jersey Resources has a 52-week low of $40.28 and a 52-week high of $51.83.

A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of New Jersey Resources from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday, April 11th. Guggenheim lowered shares of New Jersey Resources from a “neutral” rating to a “sell” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $50.00.

In other news, Director M William Howard, Jr. sold 1,000 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $50.17, for a total value of $50,170.00. Following the completion of the sale, the director now directly owns 16,713 shares of the company’s stock, valued at $838,491.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Patrick J. Migliaccio sold 2,068 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $49.96, for a total transaction of $103,317.28. The disclosure for this sale can be found here. Insiders sold 26,068 shares of company stock valued at $1,287,777 over the last three months. 1.30% of the stock is owned by insiders.

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New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, provides regulated gas distribution, and retail and wholesale energy services. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Midstream segments. The Natural Gas Distribution segment offers regulated retail natural gas services to approximately 538,700 residential and commercial customers in central and northern New Jersey; provides storage management services; and participates in the off-system sales and capacity release markets.

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Earnings History for New Jersey Resources (NYSE:NJR)

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