Analysts forecast that South Jersey Industries, Inc. (NYSE:SJI) will announce $271.98 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for South Jersey Industries' earnings, with the lowest sales estimate coming in at $257.10 million and the highest estimate coming in at $280.00 million. South Jersey Industries reported sales of $259.96 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.6%. The firm is expected to issue its next quarterly earnings results after the market closes on Wednesday, August 4th.
According to Zacks, analysts expect that South Jersey Industries will report full year sales of $1.64 billion for the current fiscal year, with estimates ranging from $1.35 billion to $1.77 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.70 billion, with estimates ranging from $1.27 billion to $1.88 billion. Zacks Investment Research's sales calculations are a mean average based on a survey of sell-side research firms that cover South Jersey Industries.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Wednesday, May 5th. The utilities provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.07. South Jersey Industries had a return on equity of 11.03% and a net margin of 10.98%. The company had revenue of $674.30 million for the quarter, compared to the consensus estimate of $557.25 million.
A number of research firms have weighed in on SJI. Williams Capital reiterated a "buy" rating on shares of South Jersey Industries in a report on Friday, April 23rd. Mizuho upped their target price on South Jersey Industries from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, May 27th. They noted that the move was a valuation call. Zacks Investment Research upgraded South Jersey Industries from a "hold" rating to a "buy" rating and set a $28.00 target price on the stock in a report on Friday. JPMorgan Chase & Co. upgraded South Jersey Industries from an "underweight" rating to a "neutral" rating and upped their target price for the stock from $25.00 to $27.00 in a report on Tuesday, May 11th. Finally, Bank of America upgraded South Jersey Industries from a "neutral" rating to a "buy" rating and set a $27.00 target price on the stock in a report on Wednesday, April 28th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of "Hold" and an average price target of $27.50.
SJI stock opened at $25.56 on Friday. South Jersey Industries has a fifty-two week low of $18.24 and a fifty-two week high of $29.24. The stock's 50 day moving average price is $26.43. The company has a debt-to-equity ratio of 1.76, a current ratio of 0.65 and a quick ratio of 0.62. The stock has a market cap of $2.87 billion, a P/E ratio of 14.04, a price-to-earnings-growth ratio of 2.85 and a beta of 0.85.
The business also recently declared a quarterly dividend, which was paid on Friday, July 2nd. Stockholders of record on Thursday, June 10th were given a $0.303 dividend. This is a boost from South Jersey Industries's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend was Wednesday, June 9th. South Jersey Industries's payout ratio is currently 72.02%.
In other news, Director Sheila Hartnett-Devlin sold 5,256 shares of the business's stock in a transaction that occurred on Friday, June 4th. The stock was sold at an average price of $27.59, for a total value of $145,013.04. Following the sale, the director now directly owns 18,523 shares of the company's stock, valued at approximately $511,049.57. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company's stock.
Hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC bought a new position in shares of South Jersey Industries during the 1st quarter valued at $26,000. Versant Capital Management Inc lifted its holdings in shares of South Jersey Industries by 53.3% during the 1st quarter. Versant Capital Management Inc now owns 1,479 shares of the utilities provider's stock valued at $33,000 after buying an additional 514 shares during the period. Captrust Financial Advisors lifted its holdings in shares of South Jersey Industries by 303.2% during the 1st quarter. Captrust Financial Advisors now owns 1,496 shares of the utilities provider's stock valued at $34,000 after buying an additional 1,125 shares during the period. Point72 Hong Kong Ltd bought a new position in shares of South Jersey Industries during the 1st quarter valued at $77,000. Finally, Ellevest Inc. lifted its holdings in shares of South Jersey Industries by 52.3% during the 1st quarter. Ellevest Inc. now owns 3,477 shares of the utilities provider's stock valued at $79,000 after buying an additional 1,194 shares during the period. 90.87% of the stock is currently owned by institutional investors and hedge funds.
About South Jersey Industries
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas purchased directly from producers or suppliers to customers.
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