We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is a Beat in Store for ALLETE (ALE) This Earnings Season?
Read MoreHide Full Article
We expect ALLETE, Inc. (ALE - Free Report) to beat expectations when it reports second-quarter 2017 results on Aug 2, before the market opens. Last quarter, the company’s earnings were in line with the Zacks Consensus Estimate.
Why a Likely Positive Surprise?
Our proven model shows that ALLETE is likely to beat estimates because it has the right combination of two key ingredients. 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) for this to happen.
Zacks ESP: The Earnings ESP, which represents the difference between the Most Accurate estimate of 59 cents and the Zacks Consensus Estimate of 56 cents, is +5.36%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ALLETE currently carries a Zacks Rank #2. The combination of ALLETE’s favorable Zacks Rank and positive ESP makes us confident of a beat this season.
Conversely, we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
ALLETE is expected to benefit from improving economic conditions in its service territories, resulting in customers creating fresh demand for utility services.
The company will also gain from the new rates from its regulated Minnesota Power service territories. The company has been gaining from the higher taconite production in its service areas as President Trump continues to promote the use of U.S.-made steel.
Other Stocks to Consider
ALLETE is not the only company in the industry looking up this earnings season. We can expect earnings beats from these companies as well.
Pattern Energy Group Inc. has an Earnings ESP of +23.08% and a Zacks Rank #2. It is slated to report second-quarter 2017 results on Aug 4.
The AES Corporation (AES - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #2. It is slated to report second-quarter 2017 results on Aug 8.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Is a Beat in Store for ALLETE (ALE) This Earnings Season?
We expect ALLETE, Inc. (ALE - Free Report) to beat expectations when it reports second-quarter 2017 results on Aug 2, before the market opens. Last quarter, the company’s earnings were in line with the Zacks Consensus Estimate.
Why a Likely Positive Surprise?
Our proven model shows that ALLETE is likely to beat estimates because it has the right combination of two key ingredients. 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) for this to happen.
Zacks ESP: The Earnings ESP, which represents the difference between the Most Accurate estimate of 59 cents and the Zacks Consensus Estimate of 56 cents, is +5.36%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: ALLETE currently carries a Zacks Rank #2. The combination of ALLETE’s favorable Zacks Rank and positive ESP makes us confident of a beat this season.
Conversely, we caution against stocks with a Zacks Rank #4 or 5 (Sell rated) going into the earnings announcement, especially when the company is witnessing negative estimate revisions.
Allete, Inc. Price and EPS Surprise
Allete, Inc. Price and EPS Surprise | Allete, Inc. Quote
Factors to Consider
ALLETE is expected to benefit from improving economic conditions in its service territories, resulting in customers creating fresh demand for utility services.
The company will also gain from the new rates from its regulated Minnesota Power service territories. The company has been gaining from the higher taconite production in its service areas as President Trump continues to promote the use of U.S.-made steel.
Other Stocks to Consider
ALLETE is not the only company in the industry looking up this earnings season. We can expect earnings beats from these companies as well.
NiSource, Inc (NI - Free Report) has an Earnings ESP of +10.00% and a Zacks Rank #2. It is slated to report second-quarter 2017 results on Aug 3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Pattern Energy Group Inc. has an Earnings ESP of +23.08% and a Zacks Rank #2. It is slated to report second-quarter 2017 results on Aug 4.
The AES Corporation (AES - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #2. It is slated to report second-quarter 2017 results on Aug 8.
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>