Brokerages predict that South Jersey Industries Inc (NYSE:SJI) will report earnings of ($0.18) per share for the current quarter, according to Zacks. Two analysts have made estimates for South Jersey Industries’ earnings, with the highest EPS estimate coming in at ($0.10) and the lowest estimate coming in at ($0.30). South Jersey Industries posted earnings of ($0.05) per share during the same quarter last year, which would suggest a negative year over year growth rate of 260%. The firm is expected to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that South Jersey Industries will report full-year earnings of $1.60 per share for the current fiscal year, with EPS estimates ranging from $1.58 to $1.63. For the next fiscal year, analysts expect that the business will report earnings of $1.74 per share, with EPS estimates ranging from $1.66 to $1.86. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for South Jersey Industries.
South Jersey Industries (NYSE:SJI) last issued its quarterly earnings data on Wednesday, August 8th. The utilities provider reported $0.07 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.03. South Jersey Industries had a negative net margin of 1.22% and a positive return on equity of 11.36%. The business had revenue of $227.33 million during the quarter, compared to analyst estimates of $254.54 million. During the same period in the prior year, the business earned $0.06 EPS. The company’s revenue for the quarter was down 7.0% on a year-over-year basis.
Several research analysts have commented on SJI shares. ValuEngine upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a report on Thursday. TheStreet lowered shares of South Jersey Industries from a “b+” rating to a “c+” rating in a report on Thursday, August 9th. Morgan Stanley upped their price objective on shares of South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Finally, JPMorgan Chase & Co. upped their price objective on shares of South Jersey Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Friday, August 10th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. South Jersey Industries presently has an average rating of “Buy” and an average target price of $36.00.
Shares of NYSE SJI opened at $34.35 on Wednesday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.15 and a quick ratio of 1.12. South Jersey Industries has a 12 month low of $25.96 and a 12 month high of $36.72. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 1.80 and a beta of 0.49.
In other South Jersey Industries news, Director Sunita Holzer purchased 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was bought at an average cost of $32.88 per share, for a total transaction of $49,320.00. Following the purchase, the director now directly owns 25,866 shares in the company, valued at $850,474.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.64% of the stock is owned by company insiders.
Institutional investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in South Jersey Industries by 90.1% during the 2nd quarter. US Bancorp DE now owns 3,729 shares of the utilities provider’s stock valued at $125,000 after purchasing an additional 1,767 shares in the last quarter. Bank of Montreal Can bought a new stake in South Jersey Industries during the 2nd quarter valued at about $125,000. Cubist Systematic Strategies LLC bought a new stake in South Jersey Industries during the 1st quarter valued at about $112,000. Captrust Financial Advisors bought a new stake in South Jersey Industries during the 2nd quarter valued at about $141,000. Finally, Point72 Asia Hong Kong Ltd bought a new stake in South Jersey Industries during the 1st quarter valued at about $148,000. Institutional investors own 85.10% of the company’s stock.
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, which is purchased directly from producers or suppliers to their customers.
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