South Jersey Industries (SJI) Posts Earnings Results, Misses Expectations By $0.02 EPS

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South Jersey Industries (NYSE:SJI) announced its quarterly earnings results on Wednesday. The utilities provider reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by ($0.02), MarketWatch Earnings reports. The firm had revenue of $302.50 million for the quarter, compared to analyst estimates of $242.21 million. South Jersey Industries had a positive return on equity of 11.36% and a negative net margin of 1.22%. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) EPS. South Jersey Industries updated its FY18 guidance to $1.57-1.65 EPS.

Shares of NYSE:SJI traded down $0.14 during mid-day trading on Friday, reaching $32.22. 482,059 shares of the company were exchanged, compared to its average volume of 658,518. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.12 and a current ratio of 1.15. The stock has a market capitalization of $2.68 billion, a P/E ratio of 26.20, a PEG ratio of 1.68 and a beta of 0.70. South Jersey Industries has a 1 year low of $25.96 and a 1 year high of $36.72.

In related news, Director Sunita Holzer acquired 1,500 shares of the stock in a transaction that occurred on Monday, August 27th. The stock was purchased at an average price of $32.88 per share, with a total value of $49,320.00. Following the transaction, the director now owns 25,866 shares of the company’s stock, valued at approximately $850,474.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.64% of the company’s stock.

A number of analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Thursday, October 25th. Wells Fargo & Co restated a “market perform” rating and set a $31.00 price target on shares of South Jersey Industries in a report on Tuesday, October 30th. Williams Capital cut their price target on shares of South Jersey Industries from $39.00 to $36.00 and set a “buy” rating for the company in a report on Monday, October 29th. Morgan Stanley raised their price target on shares of South Jersey Industries from $31.00 to $32.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Finally, ValuEngine downgraded shares of South Jersey Industries from a “buy” rating to a “hold” rating in a report on Monday, October 22nd. Eight analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $34.75.

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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 for South Jersey Industries (NYSE:SJI)

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