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

New Jersey Resources (NYSE:NJR) is scheduled to be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect New Jersey Resources to post earnings of $1.32 per share for the quarter. New Jersey Resources has set its FY 2024 guidance at 2.850-3.000 EPS and its FY24 guidance at $2.85-3.00 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

New Jersey Resources (NYSE:NJR) last posted its earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). The company had revenue of $467.20 million during the quarter, compared to analyst estimates of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. New Jersey Resources’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.14 EPS. On average, analysts expect New Jersey Resources to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

New Jersey Resources Stock Up 0.3 %

NYSE NJR opened at $43.48 on Tuesday. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. New Jersey Resources has a fifty-two week low of $38.92 and a fifty-two week high of $52.93. The business has a 50 day moving average price of $42.32 and a two-hundred day moving average price of $42.56. The stock has a market cap of $4.27 billion, a PE ratio of 17.82 and a beta of 0.64.

New Jersey Resources Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be given a dividend of $0.42 per share. The ex-dividend date is Wednesday, June 12th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.86%. New Jersey Resources’s payout ratio is currently 68.85%.

Analyst Ratings Changes

A number of equities analysts have commented on NJR shares. Mizuho cut their price objective on shares of New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating on the stock in a report on Monday, February 5th. StockNews.com raised New Jersey Resources from a “sell” rating to a “hold” rating in a report on Wednesday, February 7th.

New Jersey Resources Company Profile

New Jersey Resources Corporation, an energy services holding company, distributes natural gas. The company operates through four segments: Natural Gas Distribution, Clean Energy Ventures, Energy Services, and Storage and Transportation. The Natural Gas Distribution segment offers regulated natural gas utility services to approximately 576,000 customers in Burlington, Middlesex, Monmouth, Morris, Ocean, and Sussex counties in New Jersey; provides capacity and storage management services; and participates in the off-system sales and capacity release markets.