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Broker Revenue Forecasts For New Jersey Resources Corporation (NYSE:NJR) Are Surging Higher

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Broker Revenue Forecasts For New Jersey Resources Corporation (NYSE:NJR) Are Surging Higher


Shareholders in New Jersey Resources Corporation (NYSE:NJR) may be thrilled to learn that the analysts have just delivered a major upgrade to their near-term forecasts. The revenue forecast for this year has experienced a facelift, with the analysts now much more optimistic on its sales pipeline.

Following the upgrade, the latest consensus from New Jersey Resources’ six analysts is for revenues of US$2.4b in 2024, which would reflect a major 23% improvement in sales compared to the last 12 months. Prior to the latest estimates, the analysts were forecasting revenues of US$2.1b in 2024. It looks like there’s been a clear increase in optimism around New Jersey Resources, given the nice increase in revenue forecasts.

See our latest analysis for New Jersey Resources

NYSE:NJR Earnings and Revenue Growth January 25th 2024

We’d point out that there was no major changes to their price target of US$48.00, suggesting the latest estimates were not enough to shift their view on the value of the business.

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Taking a look at the bigger picture now, one of the ways we can understand these forecasts is to see how they compare to both past performance and industry growth estimates. One thing stands out from these estimates, which is that New Jersey Resources is forecast to grow faster in the future than it has in the past, with revenues expected to display 23% annualised growth until the end of 2024. If achieved, this would be a much better result than the 1.9% annual decline over the past five years. Compare this against analyst estimates for the broader industry, which suggest that (in aggregate) industry revenues are expected to grow 5.0% annually. So it looks like New Jersey Resources is expected to grow faster than its competitors, at least for a while.

The Bottom Line

The most important thing to take away from this upgrade is that analysts lifted their revenue estimates for this year. They’re also forecasting more rapid revenue growth than the wider market. Given that analysts appear to be expecting substantial improvement in the sales pipeline, now could be the right time to take another look at New Jersey Resources.

Using these estimates as a starting point, we’ve run a discounted cash flow calculation (DCF) on New Jersey Resources that suggests the company could be somewhat undervalued. You can learn more about our valuation methodology on our platform here.

Another way to search for interesting companies that could be reaching an inflection point is to track whether management are buying or selling, with our free list of growing companies that insiders are buying.

Valuation is complex, but we’re helping make it simple.

Find out whether New Jersey Resources is potentially over or undervalued by checking out our comprehensive analysis, which includes fair value estimates, risks and warnings, dividends, insider transactions and financial health.

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View the Free Analysis

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.



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New Jersey

Severe Storms, Dangerous Heat Targets NJ Friday

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Severe Storms, Dangerous Heat Targets NJ Friday


“Dangerous heat is expected to continue across much of our region through today, with several record highs likely to be challenged again. High temperatures are forecast to peak into the low to mid 90s across most of the area,” the National Weather Service said Friday.

A Heat Advisory is in effect until 8 p.m. across the state except for Atlantic, Cape May, Cumberland and Salem counties.





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New Jersey

New Jersey man sentenced to 6.5 years for fatal Lehigh Valley plane crash

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New Jersey man sentenced to 6.5 years for fatal Lehigh Valley plane crash


Philip McPherson II, a 37-year-old from Riverside, New Jersey, was sentenced Thursday, June 11, to 78 months in prison for his role in a 2022 plane crash in Lehigh County that killed a student pilot, according to the U.S. Attorney’s Office, Eastern District of Pennsylvania.

Sentencing and charges for fatal Lehigh Valley crash

What we know:

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United States District Judge John M. Gallagher sentenced McPherson to 78 months in prison, three years of supervised release, a $5,000 fine, a $4,300 special assessment, and $19,530 in restitution. Judge Gallagher also barred McPherson from working in the aviation industry.

McPherson pleaded guilty in October to involuntary manslaughter, conspiracy to commit wire fraud, obstruction of an administrative proceeding, and 40 counts of serving as an airman without a certificate.

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The backstory:

Court filings show that on September 28, 2022, McPherson took off from Queen City Airport in Allentown as the pilot-in-command with student pilot K.K. and crashed shortly after, resulting in K.K.’s death.

Prosecutors said McPherson acted with gross negligence, knowing he was not competent to fly as pilot-in-command. He had two prior crashes, nearly a third, and failed a reexamination for his pilot’s certificate in September 2021.

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McPherson voluntarily surrendered his pilot’s certificate in October 2021 and let his Temporary Airman Certificate expire in November 2021, acknowledging his inability to meet FAA standards.

He admitted to flying with passengers without a valid FAA pilot’s certificate between October 12, 2021, and September 20, 2022.

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Investigators from the U.S. Department of Transportation Office of Inspector General, FAA, and Salisbury Township Police Department worked on the case, which was prosecuted by Assistant United States Attorney Robert Schopf and Special Assistant United States Attorney Marie Miller.

What we don’t know:

Authorities have not released further details about the circumstances leading up to the crash.

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The Source: Information from the U.S. Attorney’s Office, Eastern District of Pennsylvania.

Crime & Public SafetyNews



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Historic South Jersey bell to ring Sunday to celebrate independence festival

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Historic South Jersey bell to ring Sunday to celebrate independence festival


From Camden and Cherry Hill to Trenton and the Jersey Shore, what about life in New Jersey do you want WHYY News to cover? Let us know.

On Sunday, June 14, a bell will ring at the Historic Olde Courthouse in Mount Holly, New Jersey, as part of a festival to commemorate the nation’s 250th anniversary.

In the summer of 1776, officials rang the same bell at the courthouse in Burlington City, the seat of Burlington County at the time, after the Declaration of Independence was signed.

The bell was moved to Mount Holly in 1796 when that city became the Burlington County seat.

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An ancient bell rung in 1776 will ring again in Burlington County, N.J. on Sunday to celebrate the nation’s 250th anniversary. (Courtesy Burlington County)

Marisa Bozarth, Burlington County’s museum curator of history, said courthouse bells were rung in the 1700s to signify that something important was taking place.

“They would have rung it when there was a large court case of any significance, when the jury was coming back, so people knew to return to the courthouse to hear the verdict,” she said. “The bell was also rung any time there was any public reading of any sort of important document. It was their way to get the information out to the masses quickly.”

After the wording of the Declaration of Independence was finalized and the document was signed, every state received a copy so it could be shared with the people living there. At the time, some Burlington County residents wanted to remain loyal to Britain, while others supported the movement for independence, Bozarth said.

“I would think it was a bit of a scary time because when the Declaration of Independence was finally signed and then presented, it meant we were really going to war,” she said. “We were declaring our independence, but we weren’t officially an independent nation yet. It meant a scary time was coming because Britain wasn’t going to accept that and just let us walk away.”



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