New Jersey Resources (NJR) Scheduled to Post Earnings on Tuesday

New Jersey Resources (NYSE:NJR) is set to announce its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce 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.Parties interested in participating in the company’s conference call can do so using this link.

New Jersey Resources (NYSE:NJR) last announced its earnings results on Tuesday, February 6th. The utilities provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). The company had revenue of $467.20 million during the quarter, compared to the consensus estimate of $812.66 million. New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The business’s revenue was down 35.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.14 earnings per share. 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 %

Shares of NYSE NJR opened at $44.70 on Friday. The company’s 50 day moving average price is $42.52 and its 200-day moving average price is $42.61. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70. New Jersey Resources has a 52-week low of $38.92 and a 52-week high of $52.28. The company has a market capitalization of $4.39 billion, a P/E ratio of 18.32 and a beta of 0.62.

New Jersey Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Wednesday, June 12th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources’s dividend payout ratio is 68.85%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. 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 research report on Monday, February 5th. StockNews.com upgraded 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.