A share price of New Jersey Resources Corporation [NJR] is currently trading at $43.53, up 0.39%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The NJR shares have gain 4.69% over the last week, with a monthly amount glided 4.19%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
New Jersey Resources Corporation [NYSE: NJR] stock has seen the most recent analyst activity on September 21, 2023, when JP Morgan upgraded its rating to a Neutral and also boosted its price target to $46 from $44. Previously, JP Morgan downgraded its rating to Underweight on September 09, 2022, and dropped its price target to $46. On January 05, 2022, downgrade downgraded it’s rating to Neutral but maintained its price target of $42 on the stock. BofA Securities downgraded its rating to a Underperform but stick to its price target of $39 on June 25, 2021. JP Morgan initiated its recommendation with a Neutral and recommended $43 as its price target on May 03, 2021. Siebert Williams Shank started tracking with a Buy rating for this stock on January 19, 2021, and assigned it a price target of $44. In a note dated July 24, 2020, Mizuho initiated an Buy rating.
New Jersey Resources Corporation experienced fluctuations in its stock price throughout the past year between $38.92 and $53.90. Currently, Wall Street analysts expect the stock to reach $46 within the next 12 months. New Jersey Resources Corporation [NYSE: NJR] shares were valued at $43.53 at the most recent close of the market. An investor can expect a potential return of 5.67% based on the average NJR price forecast.
Analyzing the NJR fundamentals
Trailing Twelve Months sales for New Jersey Resources Corporation [NYSE:NJR] were 1.67B which represents -36.49% decline. Gross Profit Margin for this corporation currently stands at 0.34% with Operating Profit Margin at 0.22%, Pretax Profit Margin comes in at 0.16%, and Net Profit Margin reading is 0.14%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.12 and Total Capital is 0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.64.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 43.07 points at the first support level, and at 42.61 for the second support level. However, for the 1st resistance point, the stock is sitting at 43.87, and for the 2nd resistance point, it is at 44.21.
New Jersey Resources Corporation [NJR] reported earnings per share of $0.74 for its fiscal quarter that ended on 12/31/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.75/share, meaning a difference of $-0.01 and a surprise factor of -1.30%. By comparison, the stated earnings for the previous quarter ended on 9/30/2023 were $0.3 per share as compared to estimates of $0.3 per share, a difference of $0 representing a surprise of 0.00%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for New Jersey Resources Corporation [NYSE:NJR] is 0.70. As well, the Quick Ratio is 0.47, while the Cash Ratio is 0.0. Considering the valuation of this stock, the price to sales ratio is 2.56, the price to book ratio is 2.07 and price to earnings (TTM) ratio is 17.91.
Transactions by insiders
Recent insider trading involved Migliaccio Patrick J., Senior VP and COO, NJNG, that happened on Mar 12 ’24 when 3000.0 shares were sold. Senior VP and COO, NJNG, Migliaccio Patrick J. completed a deal on Dec 21 ’23 to sell 3579.0 shares. Meanwhile, President & CEO Westhoven Stephen D sold 5000.0 shares on May 12 ’23.
