$320.19 Million in Sales Expected for South Jersey Industries, Inc. (NYSE:SJI) This Quarter

Wall Street brokerages predict that South Jersey Industries, Inc. (NYSE:SJIGet Rating) will post sales of $320.19 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for South Jersey Industries’ earnings, with the highest sales estimate coming in at $340.33 million and the lowest estimate coming in at $281.23 million. South Jersey Industries posted sales of $311.83 million during the same quarter last year, which would suggest a positive year over year growth rate of 2.7%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that South Jersey Industries will report full year sales of $1.91 billion for the current financial year, with estimates ranging from $1.76 billion to $2.06 billion. For the next fiscal year, analysts expect that the business will report sales of $1.98 billion, with estimates ranging from $1.83 billion to $2.14 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover South Jersey Industries.

South Jersey Industries (NYSE:SJIGet Rating) last released its earnings results on Wednesday, May 4th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.07). South Jersey Industries had a net margin of 4.14% and a return on equity of 9.82%. The firm had revenue of $824.58 million during the quarter, compared to the consensus estimate of $689.67 million. During the same period in the prior year, the business posted $1.26 earnings per share. South Jersey Industries’s quarterly revenue was up 22.3% compared to the same quarter last year.

Several research firms recently weighed in on SJI. Maxim Group cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research note on Friday, February 25th. StockNews.com raised South Jersey Industries from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. Zacks Investment Research downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a report on Tuesday, May 10th. Bank of America downgraded South Jersey Industries from a “buy” rating to a “neutral” rating and set a $25.00 price target for the company. in a report on Thursday, February 17th. Finally, Guggenheim downgraded South Jersey Industries from a “buy” rating to a “neutral” rating in a report on Thursday, January 20th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $28.17.

NYSE:SJI opened at $33.68 on Wednesday. South Jersey Industries has a 1-year low of $20.75 and a 1-year high of $35.32. The company has a debt-to-equity ratio of 1.45, a current ratio of 0.84 and a quick ratio of 0.81. The firm has a fifty day simple moving average of $34.27 and a 200 day simple moving average of $28.69.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 5th. Stockholders of record on Friday, June 10th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date is Thursday, June 9th.

Several institutional investors and hedge funds have recently bought and sold shares of the company. San Luis Wealth Advisors LLC acquired a new position in South Jersey Industries in the first quarter valued at about $26,000. Concourse Financial Group Securities Inc. acquired a new position in South Jersey Industries in the third quarter valued at about $34,000. C M Bidwell & Associates Ltd. acquired a new position in South Jersey Industries in the first quarter valued at about $42,000. Signaturefd LLC raised its stake in South Jersey Industries by 49.3% in the first quarter. Signaturefd LLC now owns 1,302 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 430 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in South Jersey Industries in the first quarter valued at about $63,000. 84.30% of the stock is owned by institutional investors.

About South Jersey Industries (Get Rating)

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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