$222.92 Million in Sales Expected for South Jersey Industries, Inc. (SJI) This Quarter
Wall Street brokerages forecast that South Jersey Industries, Inc. (NYSE:SJI) will post $222.92 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for South Jersey Industries’ earnings, with estimates ranging from $221.83 million to $224.00 million. South Jersey Industries reported sales of $219.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 1.8%. The company is expected to issue its next earnings report after the market closes on Thursday, November 2nd.
On average, analysts expect that South Jersey Industries will report full-year sales of $222.92 million for the current financial year, with estimates ranging from $1.20 billion to $1.25 billion. For the next year, analysts expect that the firm will report sales of $1.29 billion per share, with estimates ranging from $1.28 billion to $1.30 billion. Zacks’ sales averages are an average based on a survey of research firms that follow South Jersey Industries.
South Jersey Industries (NYSE:SJI) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. South Jersey Industries had a return on equity of 7.71% and a net margin of 7.02%. The firm had revenue of $244.37 million during the quarter, compared to the consensus estimate of $179.63 million. During the same period last year, the business posted $0.12 EPS.
Several analysts have issued reports on SJI shares. Morgan Stanley boosted their target price on shares of South Jersey Industries from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Janney Montgomery Scott raised shares of South Jersey Industries from a “neutral” rating to a “buy” rating in a research note on Tuesday, August 8th. They noted that the move was a valuation call. Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and upped their price target for the stock from $34.00 to $36.00 in a research note on Monday, July 17th. BidaskClub cut shares of South Jersey Industries from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, Zacks Investment Research cut shares of South Jersey Industries from a “hold” rating to a “sell” rating in a report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $38.00.
A number of hedge funds have recently added to or reduced their stakes in the business. NJ State Employees Deferred Compensation Plan bought a new stake in South Jersey Industries during the third quarter valued at about $691,000. Victory Capital Management Inc. boosted its holdings in South Jersey Industries by 49.6% during the third quarter. Victory Capital Management Inc. now owns 1,059,927 shares of the utilities provider’s stock valued at $36,599,000 after acquiring an additional 351,628 shares during the period. Crossmark Global Holdings Inc. bought a new stake in South Jersey Industries during the third quarter valued at about $587,000. Phocas Financial Corp. boosted its holdings in South Jersey Industries by 80.8% during the second quarter. Phocas Financial Corp. now owns 272,684 shares of the utilities provider’s stock valued at $9,318,000 after acquiring an additional 121,858 shares during the period. Finally, WFG Advisors LP boosted its holdings in South Jersey Industries by 8.0% during the second quarter. WFG Advisors LP now owns 3,153 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 234 shares during the period. Institutional investors own 69.41% of the company’s stock.
South Jersey Industries (NYSE:SJI) traded up 0.33% during trading on Tuesday, reaching $33.66. The company’s stock had a trading volume of 14,763 shares. The firm has a 50-day moving average price of $34.60 and a 200-day moving average price of $35.20. The firm has a market capitalization of $2.67 billion, a P/E ratio of 31.25 and a beta of 0.75. South Jersey Industries has a 52 week low of $28.04 and a 52 week high of $38.40.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Monday, September 11th were issued a dividend of $0.273 per share. This represents a $1.09 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, September 8th. South Jersey Industries’s dividend payout ratio (DPR) is 101.87%.
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South Jersey Industries Company Profile
South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).
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