New Jersey Resources (NYSE:NJR) updated its FY 2020
Pre-Market earnings guidance on Monday. The company provided earnings per share guidance of $$2.05-2.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $$2.14.
Several analysts have recently weighed in on NJR shares. Zacks Investment Research raised shares of New Jersey Resources from a sell rating to a hold rating in a research note on Wednesday, October 9th. TheStreet downgraded shares of New Jersey Resources from a b- rating to a c+ rating in a research note on Thursday, October 17th. Finally, ValuEngine downgraded shares of New Jersey Resources from a buy rating to a hold rating in a research note on Tuesday, October 1st.
Shares of NYSE:NJR opened at $42.54 on Monday. The firm has a 50 day moving average of $42.92 and a 200 day moving average of $46.36. The company has a quick ratio of 0.73, a current ratio of 1.15 and a debt-to-equity ratio of 0.99. New Jersey Resources has a 52 week low of $40.32 and a 52 week high of $51.57. The company has a market capitalization of $3.84 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 2.47 and a beta of 0.31.
New Jersey Resources (NYSE:NJR) last released its quarterly earnings results on Tuesday, November 19th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. New Jersey Resources had a net margin of 6.54% and a return on equity of 11.31%. The business had revenue of $479.08 million for the quarter, compared to analyst estimates of $694.50 million. During the same period in the previous year, the company earned ($0.33) earnings per share. The business’s revenue for the quarter was down 26.0% on a year-over-year basis. On average, sell-side analysts expect that New Jersey Resources will post 2.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th will be issued a dividend of $0.313 per share. The ex-dividend date is Wednesday, December 18th. This is a positive change from New Jersey Resources’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a dividend yield of 2.94%. New Jersey Resources’s payout ratio is 64.10%.
About New Jersey Resources
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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