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

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

Shares of NYSE NJR opened at $44.70 on Monday. The company has a debt-to-equity ratio of 1.33, a current ratio of 0.70 and a quick ratio of 0.47. The stock has a fifty day moving average price of $42.52 and a 200 day moving average price of $42.60. New Jersey Resources has a 1-year low of $38.92 and a 1-year high of $52.28. The company has a market cap of $4.39 billion, a PE 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. Shareholders of record on Wednesday, June 12th will be given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 3.76%. The ex-dividend date is Wednesday, June 12th. New Jersey Resources’s payout ratio is 68.85%.

Analysts Set New Price Targets

NJR has been the subject of several research analyst reports. Mizuho cut their price objective on New Jersey Resources from $47.00 to $45.00 and set a “neutral” rating for the company in a research report on Monday, February 5th. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th.

About New Jersey Resources

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.