On November 21, 2023, New Jersey Resources (NYSE:NJR) unveiled its quarterly adjusted earnings, revealing a unique twist in their financial performance. The company reported earnings of $0.30 per share, falling short of the analyst consensus estimate of $0.32 by 6.25%. This unexpected decline signifies a significant 40% decrease compared to the earnings of $0.50 per share reported during the corresponding period last year.
In addition to the surprising earnings figures, New Jersey Resources also disclosed their quarterly sales, which further added to the intrigue. The company reported sales amounting to $331.32 million, missing the analyst consensus estimate of $760.00 million by a staggering 56.40%. This substantial deviation indicates a noteworthy 56.72% decrease from the sales of $765.49 million achieved during the same period last year.
To delve deeper into the intricacies of New Jersey Resources’ financials, interested parties can explore the company’s official investor relations page. Here, a wealth of detailed financial information awaits, shedding light on the factors contributing to these distinctive results.
New Jersey Resources Corporation
Updated on: 04/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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New Jersey Resources Corporation (NJR) Stock Analysis: Strong Financial Performance and Growth Potential
On November 21, 2023, New Jersey Resources Corporation (NJR) stock opened at $42.00, slightly lower than the previous day’s closing price of $42.35. Throughout the day, the stock fluctuated within a range of $41.30 to $42.55. The trading volume for the day was 105,161 shares, which is significantly lower than the three-month average volume of 598,145 shares.
NJR has a market capitalization of $4.2 billion and operates in the Utilities sector, specifically in the Gas Distributors industry. The company has shown strong financial performance, with a notable earnings growth of +133.52% in the previous year. The earnings growth for the current year stands at +7.53%, and it is projected to continue growing at a rate of +7.60% over the next five years.
In terms of revenue, NJR experienced a growth rate of +37.05% in the last year, reaching a total annual revenue of $2.9 billion.
Analyzing the stock’s valuation, NJR has a price-to-earnings (P/E) ratio of 14.4, which indicates that investors are willing to pay $14.4 for every dollar of earnings. The price-to-sales ratio (P/S) is 1.28, suggesting that investors are valuing the company at 1.28 times its annual sales. The price-to-book (P/B) ratio is 2.27, indicating that the stock is trading at 2.27 times its book value.
On November 21, 2023, NJR stock experienced a decline of $0.76 or -1.27% in value.
NJR’s corporate headquarters are located in Wall, New Jersey. As of the last reporting date, the company’s earnings per share (EPS) forecast for the current quarter is $0.42. Additionally, NJR reported an annual profit of $274.9 million with a net profit margin of 9.43% in the last year.
Overall, NJR has shown strong financial performance with consistent earnings and revenue growth. Investors should consider various factors, including market conditions and industry trends, when evaluating the stock’s performance and making investment decisions.
NJR Stock Analysis: Analysts Predict Cautious Growth with a Median Target Price of $47.00
On November 21, 2023, New Jersey Resources Corp (NJR) stock had a last price of $41.71. According to data from CNN Money, six analysts have offered 12-month price forecasts for NJR, with a median target of $47.00. The high estimate is $60.00, while the low estimate is $42.00.
The current consensus among six polled investment analysts is to hold stock in NJR. This rating has remained unchanged since October.
NJR reported earnings per share of $0.42 for the current quarter, with sales amounting to $774.8 million.
Based on the analyst forecasts and the hold rating, it seems that investors are cautiously optimistic about NJR’s future prospects. The median target price of $47.00 suggests that analysts believe there is room for growth in the stock.
Investors should consider conducting further research and analysis before making any investment decisions.