New Jersey Resources Corp (NJR) Releases FY14 Earnings Guidance
New Jersey Resources Corp (NYSE:NJR) updated its FY14 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $3.90-4.10 for the period, compared to the Thomson Reuters consensus EPS estimate of $4.12, Analyst Ratings News reports.
Shares of New Jersey Resources Corp (NYSE:NJR) opened at 55.88 on Wednesday. New Jersey Resources Corp has a 52-week low of $40.60 and a 52-week high of $56.57. The stock’s 50-day moving average is $53.31 and its 200-day moving average is $48.27. The company has a market cap of $2.355 billion and a P/E ratio of 12.37.
New Jersey Resources Corp (NYSE:NJR) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $3.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $2.72 by $0.89. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. The company’s quarterly revenue was up 64.4% on a year-over-year basis. On average, analysts predict that New Jersey Resources Corp will post $4.14 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Wednesday, June 11th.
A number of analysts have recently weighed in on NJR shares. Analysts at Hilliard Lyons downgraded shares of New Jersey Resources Corp from a buy rating to a neutral rating in a research note on Monday, June 2nd. On a related note, analysts at Brean Capital downgraded shares of New Jersey Resources Corp from a buy rating to a hold rating in a research note on Thursday, May 29th. They now have a $53.00 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Ned Davis Research upgraded shares of New Jersey Resources Corp from a neutral rating to a buy rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. New Jersey Resources Corp currently has an average rating of Hold and a consensus target price of $50.50.
New Jersey Resources Corporation (NYSE:NJR) is an energy services holding company that provides retail and wholesale energy services to customers primarily in the Gulf Coast, Mid-Continent, Appalachian, Northeastern, and Western market areas of the United States, as well as Canada.
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