New Jersey Resources (NYSE:NJR - Get Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.85-3.00 for the period, compared to the consensus estimate of $2.93.
New Jersey Resources Stock Performance
NJR traded up $0.12 during trading on Tuesday, hitting $44.87. 902,006 shares of the company traded hands, compared to its average volume of 508,334. New Jersey Resources has a one year low of $38.92 and a one year high of $51.15. The stock's fifty day moving average is $42.67 and its 200 day moving average is $42.64. The company has a quick ratio of 0.47, a current ratio of 0.70 and a debt-to-equity ratio of 1.33. The firm has a market cap of $4.41 billion, a P/E ratio of 18.39 and a beta of 0.62.
New Jersey Resources (NYSE:NJR - Get Free Report) last released its earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share for the quarter, missing analysts' consensus estimates of $0.89 by ($0.15). New Jersey Resources had a net margin of 13.96% and a return on equity of 11.13%. The company had revenue of $467.20 million for the quarter, compared to the consensus estimate of $812.66 million. During the same period in the prior year, the company earned $1.14 earnings per share. The firm's revenue was down 35.4% on a year-over-year basis. As a group, equities analysts predict that New Jersey Resources will post 2.94 EPS for the current fiscal year.
New Jersey Resources Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources's dividend payout ratio is currently 68.85%.
Analysts Set New Price Targets
Several brokerages recently weighed in on NJR. StockNews.com raised New Jersey Resources from a sell rating to a hold rating in a report on Wednesday, February 7th. Mizuho lowered their price target 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.
Check Out Our Latest Stock Analysis on NJR
New Jersey Resources Company Profile
(
Get Free Report)
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.
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