Newark, NJ-based Public Service Enterprise Group Inc. PEG or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.
Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.
The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for earnings of 84 cents per share has remained stable over the last 7 days.
Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in the last four quarters, resulting in a positive average surprise of 7.70%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank #2 (Buy) but that could change following its third quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise missed earnings estimate. Operating earnings per share came in at 82 cents, compared with the Zacks Consensus Estimate of 84 cents.
Revenue: Revenues of $2,263 million missed the Zacks Consensus Estimate of $2,545 million.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Public Service Enterprise Group Incorporated Price and EPS Surprise | Public Service Enterprise Group Incorporated Quote
Key Stats: During the reported quarter, Electric sales volume decreased 0.1% year over year to 11,735 million kilowatt-hours, while Gas sales volume increased 1.5% to 481 million therms.
Guidance: The company reaffirmed its 2017 earnings guidance in the range of $2.80 –$3.00 per share.
Stock Price: It would be interesting to see how the market reacts to the third quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment