New Jersey Resources Corp reports results for the quarter ended in June - Earnings Summary

New Jersey Resources

06/08/2024 14:31

* New Jersey Resources Corp  NJR.N  reported a quarterly
adjusted
loss of 9 cents​​ per share for the quarter ended in June, lower
than the same quarter last year, when the company reported EPS
of 10 cents.  The mean expectation of five analysts for the
quarter was for a loss of 2 cents per share. Wall Street
expected results to range from -13 cents to 9 cents per share.
    * Revenue rose 4.4% to $275.64 million from a year ago;
analysts
expected $284.00 million. 
    * New Jersey Resources Corp's reported EPS for the quarter
was a
loss of 12 cents​.
    * New Jersey Resources Corp shares had risen by 5.3% this
quarter and gained 0.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 500%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the natural gas
utilities peer group is also "buy"

Wall Street's median 12-month price target for New Jersey
Resources Corp is $47.00 
This summary was machine generated from LSEG data August 6 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.02          -0.09          Missed
 Mar. 31 2024      1.33           1.41           Beat
 Dec. 31 2023      0.75           0.74           Missed
 Sep. 30 2023      0.30           0.30           Met