The Zacks: Analysts Anticipate South Jersey Industries Inc (SJI) Will Post Quarterly Sales of $179.63 Million

The Zacks: Analysts Anticipate South Jersey Industries Inc (SJI) Will Post Quarterly Sales of $179.63 Million

According to Zacks, analysts expect that South Jersey Industries will report full-year sales of $179.63 million for the current financial year, with estimates ranging from $1.07 billion to $1.15 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.17 billion per share, with estimates ranging from $1.12 billion to $1.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for South Jersey Industries.

Equities research analysts expect South Jersey Industries Inc (NYSE:SJI) to post sales of $179.63 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for South Jersey Industries’ earnings, with the lowest sales estimate coming in at $175 million and the highest estimate coming in at $184.26 million. South Jersey Industries posted sales of $154.4 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The business is scheduled to issue its next earnings report on Thursday, August 3rd.

South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Tuesday, May 9th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.09. South Jersey Industries had a net margin of 12.83% and a return on equity of 9.65%. The company had revenue of $425.83 million during the quarter, compared to analyst estimates of $329.50 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Several research analysts recently commented on the stock. Zacks Investment Research downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Hilliard Lyons upgraded shares of South Jersey Industries from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday, March 15th. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $35.17.

South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Tuesday, May 9th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.09. South Jersey Industries had a net margin of 12.83% and a return on equity of 9.65%. The company had revenue of $425.83 million during the quarter, compared to analyst estimates of $329.50 million. During the same quarter in the prior year, the company posted $0.80 earnings per share. Shares of South Jersey Industries (NYSE:SJI) traded down 1.04% during mid-day trading on Friday, reaching $35.08. The company had a trading volume of 103,423 shares. The stock has a market capitalization of $2.79 billion, a P/E ratio of 31.13 and a beta of 0.66. The company’s 50-day moving average is $36.73 and its 200 day moving average is $33.80. South Jersey Industries has a 52-week low of $27.47 and a 52-week high of $38.40.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Investors of record on Friday, June 9th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.09 annualized dividend and a yield of 3.07%. South Jersey Industries’s dividend payout ratio (DPR) is presently 62.64%. In related news, insider Gina Marie Merritt-Epps sold 2,000 shares of South Jersey Industries stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $35.55, for a total value of $71,100.00. Following the transaction, the insider now owns 3,622 shares in the company, valued at approximately $128,762.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.74% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. First Mercantile Trust Co. increased its position in shares of South Jersey Industries by 2.7% in the first quarter. First Mercantile Trust Co. now owns 3,000 shares of the utilities provider’s stock valued at $107,000 after buying an additional 80 shares during the period. Bank of Montreal Can increased its position in shares of South Jersey Industries by 180.8% in the first quarter. Bank of Montreal Can now owns 3,370 shares of the utilities provider’s stock valued at $120,000 after buying an additional 2,170 shares during the period. LS Investment Advisors LLC increased its position in shares of South Jersey Industries by 52.3% in the first quarter. LS Investment Advisors LLC now owns 4,548 shares of the utilities provider’s stock valued at $162,000 after buying an additional 1,561 shares during the period. Numeric Investors LLC purchased a new position in shares of South Jersey Industries during the fourth quarter valued at approximately $209,000. Finally, Wsfs Capital Management LLC purchased a new position in shares of South Jersey Industries during the fourth quarter valued at approximately $210,000. Hedge funds and other institutional investors own 69.44% of the company’s stock. South Jersey Industries Company Profile

South Jersey Industries, Inc (SJI) is an energy services holding company. The Company provides a range of energy-related products and services, primarily through its subsidiaries. Its subsidiaries include South Jersey Gas Company (SJG), South Jersey Energy Company (SJE), South Jersey Resources Group, LLC (SJRG), South Jersey Exploration, LLC (SJEX), Marina Energy, LLC (Marina), South Jersey Energy Service Plus, LLC (SJESP) and SJI Midstream, LLC (Midstream).

Get a free copy of the Zacks research report on South Jersey Industries (SJI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com Receive News & Ratings for South Jersey Industries Inc Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for South Jersey Industries Inc and related companies with our FREE daily email newsletter.

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment