New Jersey Resources Corp. (NJR), an energy services holding company, could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on NJR’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that New Jersey Resources could be a solid choice for investors.
Current Quarter Estimates for NJR
In the past 30 days, 1 estimate has gone higher for New Jersey Resources compared to no downward revision in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.65 a share 30 days ago, to $2.0 today, a move of 21.2%.
Current Year Estimates for NJR
Meanwhile, New Jersey Resources’ current year figures are also looking quite promising, with 2 estimates moving higher in the past month, compared to no downward revision. The consensus estimate trend has also seen a boost for this time frame, increasing from $2.85 per share 30 days ago to $3.48 per share today, an increase of 22.1%.
The stock has also started to move higher lately, adding 7.5% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future.
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NEW JERSEY RESOURCES CORP (NJR): Free Stock Analysis Report
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