Merrill Lynch analyst Richard Ciciarelli maintained a Sell rating on New Jersey Resources (NYSE:NJR) Corporation on Tuesday, setting a price target of $28, which is approximately 8.56% below the present share price of $30.62.
Ciciarelli expects New Jersey Resources Corporation to post earnings per share (EPS) of $0.93 for the third quarter of 2020.
The current consensus among 3 TipRanks analysts is for a Moderate Sell rating of shares in New Jersey Resources, with an average price target of $34.5.
The analysts price targets range from a high of $38 to a low of $31.
In its latest earnings report, released on 03/31/2020, the company reported a quarterly revenue of $639.61 million and a net profit of $95.22 million. The company's market cap is $2.93 billion.
According to TipRanks.com, Merrill Lynch analyst Richard Ciciarelli is currently ranked with 2 stars on a 0-5 stars ranking scale, with an average return of -0.4% and a 62.50% success rate.
New Jersey Resources Corp. is a holding company. The firm provides safe and reliable natural gas and clean energy services, including transportation, distribution, asset management and home services. It operates through the following segments: New Jersey Natural Gas, NJR Clean Energy Ventures, NJR Energy Services, NJR Midstream, and NJR Home Services. The New Jersey Natural Gas segment provides regulated retail natural gas service to residential and commercial customers in central and northern New Jersey. The NJR Clean Energy Ventures segment invests in, owns and operates solar projects. The NJR Energy Services segment manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services in the U.S. and Canada. The NJR Midstream segment serves customers from local distributors and producers to electric generators and wholesale marketers. The NJR Home Services segment provides heating, ventilation and cooling service, sales and installation of appliances services to its customers, as well as solar installation projects, and is the primary contributor to home services. The company was founded in 1981 and is headquartered in Wall, NJ.