$460.35 Million in Sales Expected for South Jersey Industries Inc (SJI) This Quarter

Equities research analysts expect South Jersey Industries Inc (NYSE:SJI) to report sales of $460.35 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for South Jersey Industries’ earnings, with the highest sales estimate coming in at $480.69 million and the lowest estimate coming in at $440.00 million. South Jersey Industries posted sales of $425.83 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.1%. The business is expected to announce its next earnings results on Tuesday, May 8th.

According to Zacks, analysts expect that South Jersey Industries will report full year sales of $460.35 million for the current year, with estimates ranging from $1.24 billion to $1.33 billion. For the next financial year, analysts expect that the company will post sales of $1.31 billion per share, with estimates ranging from $1.25 billion to $1.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover South Jersey Industries.

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South Jersey Industries (NYSE:SJI) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.08. The company had revenue of $345.74 million for the quarter, compared to analysts’ expectations of $336.19 million. South Jersey Industries had a negative net margin of 0.28% and a positive return on equity of 7.84%. During the same period in the prior year, the company posted $0.42 EPS.

A number of analysts recently commented on SJI shares. Sidoti cut shares of South Jersey Industries from a “buy” rating to a “neutral” rating and set a $34.00 price target on the stock. in a research note on Monday, January 8th. Guggenheim restated a “hold” rating and set a $32.00 price target on shares of South Jersey Industries in a research note on Wednesday, January 3rd. TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research note on Wednesday, January 10th. Morgan Stanley dropped their price target on shares of South Jersey Industries from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Wednesday, December 13th. Finally, JPMorgan Chase dropped their price target on shares of South Jersey Industries from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. South Jersey Industries currently has an average rating of “Hold” and a consensus target price of $32.33.

A number of hedge funds and other institutional investors have recently bought and sold shares of SJI. American International Group Inc. lifted its stake in South Jersey Industries by 5.8% in the 3rd quarter. American International Group Inc. now owns 63,211 shares of the utilities provider’s stock worth $2,183,000 after purchasing an additional 3,443 shares in the last quarter. TD Asset Management Inc. lifted its stake in South Jersey Industries by 12.6% in the 3rd quarter. TD Asset Management Inc. now owns 21,474 shares of the utilities provider’s stock worth $741,000 after purchasing an additional 2,400 shares in the last quarter. Legal & General Group Plc lifted its stake in South Jersey Industries by 4.5% in the 3rd quarter. Legal & General Group Plc now owns 184,596 shares of the utilities provider’s stock worth $6,375,000 after purchasing an additional 7,943 shares in the last quarter. Wells Fargo & Company MN lifted its stake in South Jersey Industries by 9.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,907,795 shares of the utilities provider’s stock worth $65,876,000 after purchasing an additional 164,517 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in South Jersey Industries by 6.5% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 458,497 shares of the utilities provider’s stock worth $15,832,000 after purchasing an additional 27,991 shares in the last quarter. Institutional investors and hedge funds own 70.53% of the company’s stock.

Shares of SJI stock traded up $0.12 during trading on Friday, reaching $30.04. 246,680 shares of the company’s stock traded hands, compared to its average volume of 574,868. The stock has a market capitalization of $2,381.49, a P/E ratio of 24.33, a PEG ratio of 1.91 and a beta of 0.59. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 0.94. South Jersey Industries has a 1 year low of $25.96 and a 1 year high of $38.40.

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 3rd. Shareholders of record on Monday, March 19th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Friday, March 16th. South Jersey Industries’s dividend payout ratio is presently 91.06%.

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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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