NewJersey Resources (NYSE:NJR) released its earnings results on Thursday. The utilities provider reported $1.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.97, Bloomberg Earnings reports. The firm had revenue of $705.31 million for the quarter, compared to analyst estimates of $564.47 million. NewJersey Resources had a return on equity of 11.97% and a net margin of 5.82%. The company’s revenue was up 30.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.47 EPS. NewJersey Resources updated its FY18 guidance to $2.55-2.65 EPS.
Shares of NewJersey Resources (NYSE:NJR) traded down $0.05 during trading hours on Thursday, hitting $36.65. The stock had a trading volume of 511,825 shares, compared to its average volume of 784,524. NewJersey Resources has a one year low of $35.55 and a one year high of $45.45. The firm has a market cap of $3,193.99, a price-to-earnings ratio of 24.14, a PEG ratio of 3.38 and a beta of 0.33. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.72 and a quick ratio of 0.46.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.2725 per share. This represents a $1.09 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Wednesday, March 14th. NewJersey Resources’s payout ratio is presently 71.71%.
NJR has been the topic of a number of research analyst reports. TheStreet lowered NewJersey Resources from a “b” rating to a “c+” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered NewJersey Resources from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Guggenheim reaffirmed a “buy” rating and issued a $44.00 target price on shares of NewJersey Resources in a report on Wednesday, January 3rd. ValuEngine lowered NewJersey Resources from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Janney Montgomery Scott raised NewJersey Resources from a “neutral” rating to a “buy” rating in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $44.00.
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NewJersey Resources 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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