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Is Public Service Group (PEG) Poised to Beat on Q3 Earnings?
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Public Service Enterprise Group Inc. (PEG - Free Report) is scheduled to report third-quarter 2018 results on Oct 30, before the opening bell.
In the last reported quarter, the utility company’s earnings surpassed the Zacks Consensus Estimate by 3.23%. Moreover, it exceeded the same in two of the trailing four quarters, with an average beat of 0.41%.
Let’s see how things are shaping up for this announcement.
Why a Likely Positive Earnings Surprise
Our proven model does show that Public Service Enterprise is likely to beat earnings in the second quarter. This 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.
Earnings ESP: Public Service Enterprise has an Earnings ESP of +1.90%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3, which increases the possibility of an earnings beat, along with its positive ESP.
Conversely, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Public Service Enterprise Group Incorporated Price and EPS Surprise
All along the to-be-reported quarter, Public Service Enterprise’s service territories witnessed a warmer-than-normal temperature, with August experiencing its second warmest temperature till date. This indicates increased electricity demand in the region, which, in turn, should boost the company’s top line in the upcoming quarterly results.
In line with this, the Zacks Consensus Estimate for Public Service Enterprise’s third-quarter revenues of $2.62 billion reflects year-over-year growth of 15.8%.
Operating earnings also experienced a boost due to effective cost control and lower corporate tax rate at PSEG power, and we expect a similar trend to follow in the upcoming quarter. Also, continued investment in PSE&G transmission and distribution programs is expected to boost the company’s bottom line.
Evidently, the Zacks Consensus Estimate for the company’s third-quarter earnings of 92 cents projects a 12.2% improvement from the year-ago quarter’s figure.
Other Stocks That Warrant a Look
Here are a few operators in the Utility sector you may consider as our model shows that they have the right combination of elements to deliver an earnings beat in the third quarter:
AES Corp. (AES - Free Report) has an Earnings ESP of +1.43% and a Zacks Rank #2. The company is scheduled to report third-quarter results on Nov 6.
CenterPoint Energy (CNP - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #3. The company is scheduled to report third-quarter results on Nov 8.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
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Is Public Service Group (PEG) Poised to Beat on Q3 Earnings?
Public Service Enterprise Group Inc. (PEG - Free Report) is scheduled to report third-quarter 2018 results on Oct 30, before the opening bell.
In the last reported quarter, the utility company’s earnings surpassed the Zacks Consensus Estimate by 3.23%. Moreover, it exceeded the same in two of the trailing four quarters, with an average beat of 0.41%.
Let’s see how things are shaping up for this announcement.
Why a Likely Positive Earnings Surprise
Our proven model does show that Public Service Enterprise is likely to beat earnings in the second quarter. This 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.
Earnings ESP: Public Service Enterprise has an Earnings ESP of +1.90%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #3, which increases the possibility of an earnings beat, along with its positive ESP.
Conversely, we caution against stocks with a Zacks Rank #4 or 5 (Sell-rated) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Public Service Enterprise Group Incorporated Price and EPS Surprise | Public Service Enterprise Group Incorporated Quote
Favorable Factors at Play
All along the to-be-reported quarter, Public Service Enterprise’s service territories witnessed a warmer-than-normal temperature, with August experiencing its second warmest temperature till date. This indicates increased electricity demand in the region, which, in turn, should boost the company’s top line in the upcoming quarterly results.
In line with this, the Zacks Consensus Estimate for Public Service Enterprise’s third-quarter revenues of $2.62 billion reflects year-over-year growth of 15.8%.
Operating earnings also experienced a boost due to effective cost control and lower corporate tax rate at PSEG power, and we expect a similar trend to follow in the upcoming quarter. Also, continued investment in PSE&G transmission and distribution programs is expected to boost the company’s bottom line.
Evidently, the Zacks Consensus Estimate for the company’s third-quarter earnings of 92 cents projects a 12.2% improvement from the year-ago quarter’s figure.
Other Stocks That Warrant a Look
Here are a few operators in the Utility sector you may consider as our model shows that they have the right combination of elements to deliver an earnings beat in the third quarter:
Ameren Corp. (AEE - Free Report) has an Earnings ESP of +8.65% and a Zacks Rank #2. The company is scheduled to report third-quarter results on Oct 31. You can see the complete list of today’s Zacks #1 Rank stocks here.
AES Corp. (AES - Free Report) has an Earnings ESP of +1.43% and a Zacks Rank #2. The company is scheduled to report third-quarter results on Nov 6.
CenterPoint Energy (CNP - Free Report) has an Earnings ESP of +6.67% and a Zacks Rank #3. The company is scheduled to report third-quarter results on Nov 8.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>