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Eversource Energy (ES) Q4 Earnings: What's in the Cards?
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Eversource Energy (ES - Free Report) is expected to report fourth-quarter 2016 results on Feb 2.
Last quarter, the company reported a positive earnings surprise of 3.75%. Let’s see how things are shaping up for this announcement.
Factors at Play
Above-average temperatures in its service territories – Connecticut, New Hampshire and Massachusetts – in the fourth quarter are expected to hit the topline at Eversource Energy. Further, higher depreciation and property taxes resulting from the company’s ongoing investments in its distribution system are likely to lower earnings in the to-be reported quarter.
However, higher transmission rate base on account of continued investment in the New England power grid will boost the bottom line in the fourth quarter.
Earnings Whispers
Our proven model does not conclusively show that Eversource Energy is likely to beat earnings this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) to be able to beat consensus estimates. However, that is not the case here, as you will see below.
Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 74 cents, resulting in an Earnings ESP of 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Although Eversource Energy’s Zacks Rank #3 increases the predictive power of ESP, its 0.00% ESP makes surprise prediction difficult.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few stocks in the utility space worth considering as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Exelon Corporation (EXC - Free Report) has an Earnings ESP of +2.27% and a Zacks Rank #2. It is expected to release its quarterly numbers on Feb 8.
Pinnacle West Capital Corporation (PNW - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank #2. It is slated to report earnings on Feb 24.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>
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Eversource Energy (ES) Q4 Earnings: What's in the Cards?
Eversource Energy (ES - Free Report) is expected to report fourth-quarter 2016 results on Feb 2.
Last quarter, the company reported a positive earnings surprise of 3.75%. Let’s see how things are shaping up for this announcement.
Factors at Play
Above-average temperatures in its service territories – Connecticut, New Hampshire and Massachusetts – in the fourth quarter are expected to hit the topline at Eversource Energy. Further, higher depreciation and property taxes resulting from the company’s ongoing investments in its distribution system are likely to lower earnings in the to-be reported quarter.
However, higher transmission rate base on account of continued investment in the New England power grid will boost the bottom line in the fourth quarter.
Earnings Whispers
Our proven model does not conclusively show that Eversource Energy is likely to beat earnings this quarter. That is because a stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) to be able to beat consensus estimates. However, that is not the case here, as you will see below.
Zacks ESP: Both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 74 cents, resulting in an Earnings ESP of 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Eversource Energy Price and EPS Surprise
Eversource Energy Price and EPS Surprise | Eversource Energy Quote
Zacks Rank: Although Eversource Energy’s Zacks Rank #3 increases the predictive power of ESP, its 0.00% ESP makes surprise prediction difficult.
Note that we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated stocks) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few stocks in the utility space worth considering as our model shows that they have the right combination of elements to post an earnings beat this quarter:
Portland General Electric Company (POR - Free Report) is slated to report earnings on Feb 17. It is has an Earnings ESP of +1.56% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Exelon Corporation (EXC - Free Report) has an Earnings ESP of +2.27% and a Zacks Rank #2. It is expected to release its quarterly numbers on Feb 8.
Pinnacle West Capital Corporation (PNW - Free Report) has an Earnings ESP of +4.08% and a Zacks Rank #2. It is slated to report earnings on Feb 24.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>