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Xcel Energy (XEL) to Report Q3 Earnings: Is a Beat in Store?
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Xcel Energy (XEL - Free Report) is expected to release third-quarter 2018 results on Oct 25, before market opens. The utility company delivered a positive earnings surprise of 10.64% in the last reported quarter.
What Our Quantitative Model Predicts
Our proven model shows that Xcel Energy is likely to beat estimates in the upcoming quarterly results. A stock needs to have a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. You can seethe complete list of today’s Zacks #1 Rank stocks here.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Xcel Energy carries a Zacks Rank #2. The combination of Xcel Energy’s favorable Zacks Rank and a positive ESP makes us reasonably confident of a positive earnings surprise.
Conversely, we caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Factors at Play
Xcel Energy is expected to benefit from new rates and improving economic conditions in service territories. The company is focused on renewable expansion. The Hale Wind project purchase in July will aid the company to lower carbon emission and increase renewable mix in the generation portfolio.
Xcel Energy’s raised earnings guidance for 2018 reflects expectations for improved economic conditions and higher demand that are based on continuous capital investment toward transmission, distribution, electric generation and renewable projects. We expect the company to benefit from rising electric and natural gas customer growth.
Other Stocks to Consider
Here are a few other players from the industry that have the right combination of elements to post an earnings beat this quarter.
Ameren Corporation (AEE - Free Report) is expected to release third-quarter results on Oct 31. It has an Earnings ESP of +8.64% and a Zacks Rank #1.
Dominion Energy Inc (D - Free Report) is expected to release third-quarter results on Nov 1. It has an Earnings ESP of +1.39% and a Zacks Rank #2.
FirstEnergy Corporation (FE - Free Report) is expected to release third-quarter results on Oct 25. It has an Earnings ESP of +0.78% and a Zacks Rank #2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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Xcel Energy (XEL) to Report Q3 Earnings: Is a Beat in Store?
Xcel Energy (XEL - Free Report) is expected to release third-quarter 2018 results on Oct 25, before market opens. The utility company delivered a positive earnings surprise of 10.64% in the last reported quarter.
What Our Quantitative Model Predicts
Our proven model shows that Xcel Energy is likely to beat estimates in the upcoming quarterly results. A stock needs to have a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate) and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: Earnings ESP is pegged at +0.34%.
Xcel Energy Inc. Price and EPS Surprise
Xcel Energy Inc. Price and EPS Surprise | Xcel Energy Inc. Quote
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Xcel Energy carries a Zacks Rank #2. The combination of Xcel Energy’s favorable Zacks Rank and a positive ESP makes us reasonably confident of a positive earnings surprise.
Conversely, we caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Factors at Play
Xcel Energy is expected to benefit from new rates and improving economic conditions in service territories. The company is focused on renewable expansion. The Hale Wind project purchase in July will aid the company to lower carbon emission and increase renewable mix in the generation portfolio.
Xcel Energy’s raised earnings guidance for 2018 reflects expectations for improved economic conditions and higher demand that are based on continuous capital investment toward transmission, distribution, electric generation and renewable projects. We expect the company to benefit from rising electric and natural gas customer growth.
Other Stocks to Consider
Here are a few other players from the industry that have the right combination of elements to post an earnings beat this quarter.
Ameren Corporation (AEE - Free Report) is expected to release third-quarter results on Oct 31. It has an Earnings ESP of +8.64% and a Zacks Rank #1.
Dominion Energy Inc (D - Free Report) is expected to release third-quarter results on Nov 1. It has an Earnings ESP of +1.39% and a Zacks Rank #2.
FirstEnergy Corporation (FE - Free Report) is expected to release third-quarter results on Oct 25. It has an Earnings ESP of +0.78% and a Zacks Rank #2.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot trades we're targeting>>