For its second fiscal quarter (ending March 31), New Jersey Resources Corp (NYSE: NJR) has reported a 8% increase in E.P.S. from $1.14 a year ago to $1.23 in the current quarter. Relative to the consensus estimate of $1.31, this was a shortfall of $-0.08. For the latest four quarters through March 31, E.P.S. were $2.54 compared to $3.05 a year ago — a decline of -17%.
Recent Price Action
New Jersey Resources Corp (NYSE: NJR) stock closed at $44.85 on 5/7/24 after a slight gain of 0.2%. Moreover, trading volume in this advance was unusually high at 196% of normal. The stock has performed in line with the market over the last nine months and has risen 3.2% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, NJR is expected to continue to be an important Value Builder.
New Jersey Resources has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing highly consistent signals. New Jersey Resources has a neutral Power Rating of 44 and a slightly negative Appreciation Score of 40, and the Negative Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of D. This review will be completed in the next several days.
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