Brokerages predict that South Jersey Industries Inc (NYSE:SJI) will post sales of $575.37 million for the current quarter, Zacks reports. Two analysts have provided estimates for South Jersey Industries’ earnings, with the highest sales estimate coming in at $589.73 million and the lowest estimate coming in at $561.00 million. South Jersey Industries posted sales of $521.95 million during the same quarter last year, which suggests a positive year over year growth rate of 10.2%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 26th.
According to Zacks, analysts expect that South Jersey Industries will report full-year sales of $1.78 billion for the current year, with estimates ranging from $1.74 billion to $1.82 billion. For the next year, analysts forecast that the firm will post sales of $1.80 billion, with estimates ranging from $1.71 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for South Jersey Industries.
South Jersey Industries (NYSE:SJI) last issued its earnings results on Wednesday, November 6th. The utilities provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03). South Jersey Industries had a net margin of 8.81% and a return on equity of 6.56%. The business had revenue of $261.20 million for the quarter, compared to analysts’ expectations of $253.87 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. The business’s revenue for the quarter was down 13.6% on a year-over-year basis.
SJI has been the topic of several research analyst reports. JPMorgan Chase & Co. cut South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a report on Monday, August 5th. ValuEngine downgraded South Jersey Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 24th. TheStreet downgraded South Jersey Industries from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. Maxim Group reaffirmed a “buy” rating and set a $40.00 price target on shares of South Jersey Industries in a research report on Friday, November 8th. Finally, Morgan Stanley lowered their price objective on shares of South Jersey Industries from $32.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $35.00.
SJI stock traded down $0.07 on Friday, hitting $30.99. The company had a trading volume of 4,440 shares, compared to its average volume of 472,465. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 1.43. South Jersey Industries has a 12-month low of $26.06 and a 12-month high of $34.48. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 3.36 and a beta of 0.65. The stock’s 50-day simple moving average is $31.29 and its 200 day simple moving average is $32.36.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Tuesday, December 10th will be issued a $0.295 dividend. This is a boost from South Jersey Industries’s previous quarterly dividend of $0.29. This represents a $1.18 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Monday, December 9th. South Jersey Industries’s dividend payout ratio (DPR) is currently 83.33%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. lifted its position in shares of South Jersey Industries by 4.7% during the second quarter. Crossmark Global Holdings Inc. now owns 7,060 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 314 shares in the last quarter. Nisa Investment Advisors LLC grew its position in South Jersey Industries by 14.4% during the second quarter. Nisa Investment Advisors LLC now owns 55,550 shares of the utilities provider’s stock valued at $1,874,000 after purchasing an additional 7,000 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in South Jersey Industries by 10.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 36,669 shares of the utilities provider’s stock valued at $1,237,000 after buying an additional 3,553 shares during the period. CWM Advisors LLC acquired a new position in South Jersey Industries in the 2nd quarter valued at approximately $211,000. Finally, NEXT Financial Group Inc acquired a new stake in shares of South Jersey Industries during the 2nd quarter valued at $171,000. Institutional investors own 81.71% 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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