$285.75 Million in Sales Expected for South Jersey Industries Inc (NYSE:SJI) This Quarter

Wall Street analysts forecast that South Jersey Industries Inc (NYSE:SJI) will post sales of $285.75 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for South Jersey Industries’ earnings, with the lowest sales estimate coming in at $246.00 million and the highest estimate coming in at $325.50 million. South Jersey Industries posted sales of $302.48 million during the same quarter last year, which suggests a negative year over year growth rate of 5.5%. The firm is scheduled to report its next earnings report after the market closes on Wednesday, November 6th.

On average, analysts expect that South Jersey Industries will report full-year sales of $1.73 billion for the current year, with estimates ranging from $1.64 billion to $1.82 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.76 billion, with estimates ranging from $1.61 billion to $1.90 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for South Jersey Industries.

South Jersey Industries (NYSE:SJI) last issued its earnings results on Wednesday, August 7th. The utilities provider reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.09). The business had revenue of $266.93 million during the quarter, compared to analysts’ expectations of $254.12 million. South Jersey Industries had a return on equity of 7.10% and a net margin of 7.97%. South Jersey Industries’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.07 EPS.

SJI has been the topic of a number of analyst reports. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Maxim Group set a $40.00 price objective on shares of South Jersey Industries and gave the company a “buy” rating in a research report on Friday, September 13th. Morgan Stanley set a $30.00 price objective on shares of South Jersey Industries and gave the company a “hold” rating in a research report on Friday, August 16th. Zacks Investment Research cut shares of South Jersey Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. cut shares of South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price objective on the stock. in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. South Jersey Industries currently has a consensus rating of “Hold” and an average price target of $34.80.

SJI stock opened at $31.14 on Thursday. The firm’s 50-day moving average price is $32.24 and its two-hundred day moving average price is $32.54. South Jersey Industries has a 12-month low of $26.06 and a 12-month high of $34.48. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 22.57, a PEG ratio of 3.46 and a beta of 0.66. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 1.22.

Several hedge funds have recently added to or reduced their stakes in SJI. Invesco Ltd. boosted its stake in shares of South Jersey Industries by 107.0% during the 2nd quarter. Invesco Ltd. now owns 2,498,685 shares of the utilities provider’s stock valued at $84,280,000 after purchasing an additional 1,291,495 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its stake in shares of South Jersey Industries by 150.5% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,088,849 shares of the utilities provider’s stock valued at $36,727,000 after purchasing an additional 654,195 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of South Jersey Industries by 77.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,383,013 shares of the utilities provider’s stock valued at $46,649,000 after purchasing an additional 602,653 shares in the last quarter. Morgan Stanley boosted its stake in shares of South Jersey Industries by 381.7% during the 2nd quarter. Morgan Stanley now owns 473,573 shares of the utilities provider’s stock valued at $15,974,000 after purchasing an additional 375,267 shares in the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of South Jersey Industries by 98.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 718,644 shares of the utilities provider’s stock valued at $24,240,000 after purchasing an additional 356,598 shares in the last quarter. Hedge funds and other institutional investors own 81.69% of the company’s stock.

About South Jersey Industries

South Jersey Industries, Inc, through its subsidiaries, provides energy-related products and services. The company engages in the purchase, transmission, and sale of natural gas. It also sells natural gas and pipeline transportation capacity on a wholesale basis to residential, commercial, and industrial customers on the interstate pipeline system, as well as transports natural gas, which is purchased directly from producers or suppliers to their customers.

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Earnings History and Estimates for South Jersey Industries (NYSE:SJI)

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