Markets

Just Energy Group Provides Detailed FY 2014 Guidance, Comments On Recent Activity; Dropped Near 6%, Nearer To Yr Lows Monday

Just Energy Group Inc. (JE.TO, JE), a competitive retailer of natural gas and electricity, provided initial fiscal 2014 guidance and commented on recent market activity, specifically the company's recent share price weakness and elevated trading volume.

The company had previously guided that, based on its current $0.84 per share dividend, its payout ratio on Funds from Operations would be less than 100% for the year ending March 31, 2014. To provide further clarity, Management has made a detailed analysis of the existing customer book and margins built into those contracts. The Company is providing the following further guidance based on that review. As regards Earnings before Interest, Taxes, Depreciation and Amortization, the best estimate for fiscal 2014 is approximately $220 million ($1.57 per share).

Additionally, the company advises that it is unaware of any adverse changes to its business or its prospects that would in any way justify the recent unusual trading volumes and decline in the Just Energy share price. Aside from general macroeconomic concerns, there have been no particular events or material changes in the affairs of the company to support the decline.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

Commodities

Latest Markets Videos

MTNewswires

Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

Learn More