Stock analysts expect South Jersey Industries, Inc. (NYSE:SJI – Get Rating) to report sales of $703.99 million for the current fiscal quarter, Zacks reports. Three analysts released earnings estimates for South Jersey Industries. The lowest sales estimate is $677.94 million and the highest is $724.03 million. South Jersey Industries recorded sales of $674.30 million in the same quarter last year, indicating a positive growth rate of 4.4% year over year. The company is due to release its next earnings report on Monday, January 1.
According to Zacks, analysts expect South Jersey Industries to report annual sales of $1.99 billion for the current fiscal year, with estimates ranging from $1.90 billion to $2.06 billion. For the next fiscal year, analysts expect the company to post sales of $2.11 billion, with estimates ranging from $1.97 billion to $2.21 billion. Zacks sales averages are an average average based on a survey of research companies that provide coverage for South Jersey Industries.
South Jersey Industries (NYSE:SJI – Get Rating) last released its quarterly results on Thursday, February 24. The utility provider reported earnings per share of $0.58 for the quarter, beating Thomson Reuters consensus estimate of $0.55 by $0.03. South Jersey Industries had a return on equity of 10.39% and a net margin of 4.42%. In the same period a year earlier, the company posted earnings per share of $0.62.
A number of research companies have published reports on SJI. The Maxim Group downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a Friday, Feb. 25 research report. Bank of America downgraded shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a price target of $25.00 for the stock. in a research report on Thursday, February 17. Zacks Investment Research upgraded shares of South Jersey Industries from a “hold” rating to a “buy” rating and set a price target of $38.00 on the stock in a Thursday 24 research report. March. StockNews.com took over coverage of South Jersey Industries stocks in a Thursday, March 31 report. They issued a “sell” rating on the stock. Finally, Guggenheim cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating in a Thursday, Jan. 20, research report. One research analyst rated the stock with a sell rating, seven issued a hold rating and one gave the company’s stock a buy rating. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $28.00.
Institutional investors and hedge funds have recently changed their positions in the company. Concourse Financial Group Securities Inc. bought a new position in South Jersey Industries during the third quarter worth approximately $34,000. KBC Group NV bought a new position in shares of South Jersey Industries during the 4th quarter for a value of $72,000. Moors & Cabot Inc. bought a new position in shares of South Jersey Industries in the third quarter for a value of approximately $76,000. Captrust Financial Advisors increased its position in shares of South Jersey Industries by 76.0% in the third quarter. Captrust Financial Advisors now owns 3,712 shares of the utility provider valued at $79,000 after buying an additional 1,603 shares last quarter. Finally, Kepos Capital LP acquired a new stake in South Jersey Industries in the fourth quarter worth $95,000. 86.63% of the shares are held by institutional investors.
SJI opened at $34.16 on Thursday. South Jersey Industries has a fifty-two week low of $20.75 and a fifty-two week high of $35.32. The company has a quick ratio of 0.60, a current ratio of 0.67 and a debt ratio of 1.59. The company has a market capitalization of $4.18 billion, a price/earnings ratio of 40.19 and a beta of 0.75. The company’s 50-day moving average price is $33.49 and its 200-day moving average price is $27.54.
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 5. Shareholders of record on Wednesday, March 16 received a dividend of $0.31. The ex-dividend date was Tuesday, March 15. This represents a dividend of $1.24 on an annualized basis and a yield of 3.63%. South Jersey Industries’ dividend payout ratio (DPR) is currently 145.88%.
About South Jersey Industries (Get a rating)
South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company is involved in the purchase, transport and sale of natural gas. It also sells wholesale natural gas and pipeline capacity to residential, commercial and industrial customers on the interstate pipeline system, as well as transports purchased natural gas directly from producers or suppliers to customers.
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