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

New Jersey Resources (NYSE:NJR) will issue its quarterly earnings data 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.Investors interested in registering for the company’s conference call can do so using this link.

New Jersey Resources (NYSE:NJR) last announced its quarterly earnings results on Tuesday, February 6th. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). The business 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 company’s quarterly revenue was down 35.4% compared to the same quarter last year. During the same period last year, the firm earned $1.14 EPS. 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

NYSE:NJR opened at $43.48 on Tuesday. The company has a debt-to-equity ratio of 1.33, a quick ratio of 0.47 and a current ratio of 0.70. The company has a 50-day moving average of $42.32 and a 200-day moving average of $42.56. New Jersey Resources has a 52 week low of $38.92 and a 52 week high of $52.93. The company has a market capitalization of $4.27 billion, a price-to-earnings ratio of 17.82 and a beta of 0.64.

New Jersey Resources Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Wednesday, June 12th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 3.86%. The ex-dividend date of this dividend is Wednesday, June 12th. New Jersey Resources’s dividend payout ratio is 68.85%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NJR shares. StockNews.com upgraded New Jersey Resources from a “sell” rating to a “hold” rating in a research report on Wednesday, February 7th. 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 report on Monday, February 5th.

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.