South Jersey Industries (NYSE:SJI) issued its quarterly earnings results on Wednesday. The utilities provider reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.27) by ($0.03), Briefing.com reports. South Jersey Industries had a return on equity of 7.10% and a net margin of 7.97%. The business had revenue of $261.20 million for the quarter, compared to the consensus estimate of $253.87 million. During the same period last year, the firm earned ($0.27) earnings per share. The company’s quarterly revenue was down 13.6% compared to the same quarter last year. South Jersey Industries updated its FY19 guidance to $1.05-1.15 EPS and its FY20 guidance to $1.53-1.67 EPS.
Shares of South Jersey Industries stock traded down $0.47 during trading on Thursday, hitting $30.67. 957,437 shares of the stock were exchanged, compared to its average volume of 558,143. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of 22.22, a price-to-earnings-growth ratio of 3.38 and a beta of 0.66. The company has a fifty day moving average price of $32.19 and a 200-day moving average price of $32.53. South Jersey Industries has a 1-year low of $26.06 and a 1-year high of $34.48. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 1.22.
SJI has been the topic of several analyst reports. 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. JPMorgan Chase & Co. cut shares of South Jersey Industries from an “overweight” rating to a “neutral” rating and set a $32.00 price target on the stock. in a research report on Monday, August 5th. Morgan Stanley set a $30.00 price target on shares of South Jersey Industries and gave the stock a “hold” rating in a research report on Friday, August 16th. Maxim Group set a $40.00 price target on shares of South Jersey Industries and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, TheStreet cut shares of South Jersey Industries from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $34.80.
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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