Wall Street brokerages predict that South Jersey Industries, Inc. (NYSE:SJI) will report sales of $179.63 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for South Jersey Industries’ earnings. The highest sales estimate is $184.26 million and the lowest is $175.00 million. South Jersey Industries posted sales of $154.40 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 16.3%. The business is expected to report its next earnings report after the market closes on Thursday, August 3rd.
According to Zacks, analysts expect that South Jersey Industries will report full year sales of $179.63 million for the current fiscal year, with estimates ranging from $1.12 billion to $1.16 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.20 billion per share, with estimates ranging from $1.15 billion to $1.23 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover South Jersey Industries.
South Jersey Industries (NYSE:SJI) last announced its quarterly earnings data on Tuesday, May 9th. The utilities provider reported $0.72 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.09. South Jersey Industries had a net margin of 7.83% and a return on equity of 8.04%. The company had revenue of $425.83 million during the quarter, compared to analyst estimates of $329.50 million. During the same quarter last year, the business earned $0.80 EPS.
Several research firms recently weighed in on SJI. Williams Capital raised shares of South Jersey Industries from a “hold” rating to a “buy” rating and upped their price objective for the stock from $34.00 to $36.00 in a report on Monday, July 17th. Zacks Investment Research raised shares of South Jersey Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, BidaskClub downgraded shares of South Jersey Industries from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $37.50.
A number of hedge funds have recently bought and sold shares of the stock. First Mercantile Trust Co. raised its stake in 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 worth $107,000 after buying an additional 80 shares in the last quarter. Bank of Montreal Can raised its stake in 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 worth $120,000 after buying an additional 2,170 shares in the last quarter. LS Investment Advisors LLC raised its stake in 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 worth $162,000 after buying an additional 1,561 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in South Jersey Industries during the first quarter worth approximately $226,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in South Jersey Industries during the first quarter worth approximately $228,000. 69.55% of the stock is owned by institutional investors.
Shares of South Jersey Industries (NYSE SJI) traded up 0.65% during mid-day trading on Friday, hitting $34.19. 180,851 shares of the company traded hands. The firm has a 50-day moving average price of $34.44 and a 200 day moving average price of $34.88. The firm has a market cap of $2.72 billion, a price-to-earnings ratio of 31.66 and a beta of 0.78. South Jersey Industries has a 52-week low of $27.51 and a 52-week high of $38.40.
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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).
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