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.
PG&E Corp (PCG) to Report Q4 Earnings: What's in the Cards?
Read MoreHide Full Article
PG&E Corporation (PCG - Free Report) is set to report fourth-quarter and 2018 results on Feb 28, before the opening bell.
In the last reported quarter, the company delivered a positive earnings surprise of 0.89%. Moreover, the bottom line surpassed the Zacks Consensus Estimate in two of the trailing four quarters, the average beat being 0.66%.
Let’s see, how things are shaping up at the company prior to this announcement.
Factors at Play
During most of the fourth quarter, PG&E Corp witnessed colder-than-normal temperature in its service territory, indicating at an increase in demand for electricity. This in turn, is likely to boost the company’s quarterly revenues. In line with this, the Zacks Consensus Estimate for the top line is pegged at $4.29 billion, reflecting a 4.5% year-over-year increase.
However, wide parts of California got affected by wildfires during the fourth quarter. This is likely to weigh on the company’s quarterly earnings growth. Notably, the Zacks Consensus Estimate of 62 cents for PG&E’s quarterly earnings reflects a 1.6% drop from the year-ago quarter’s figure.
In addition, PG&E Corp has filed for bankruptcy in January 2019. No doubt, this decision was made pertaining to the company’s liabilities resulting from the 2017 and 2018 wildfires. We can expect the soon-to-be-reported results to give us further insight into this matter.
Our proven model does not conclusively show that PG&E Corp is likely to beat estimates in the fourth quarter. This is because a stock needs to have both — a positive Earnings ESP and a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — for this to happen. But that is not the case here as you will see below.
Earnings ESP: PG&E Corp has 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: PG&E Corp has a Zacks Rank #3, which increases the predictive power of ESP but an Earnings ESP of 0.00% makes surprise prediction difficult.
We caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
PNM Resources, Inc. (PNM - Free Report) carries a Zacks Rank #3. The company is slated to report fourth-quarter 2018 results on Feb 27.
CenterPoint Energy, Inc. (CNP - Free Report) carries a Zacks Rank #3. The company is slated to report fourth-quarter 2018 results on Feb 28.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
Image: Bigstock
PG&E Corp (PCG) to Report Q4 Earnings: What's in the Cards?
PG&E Corporation (PCG - Free Report) is set to report fourth-quarter and 2018 results on Feb 28, before the opening bell.
In the last reported quarter, the company delivered a positive earnings surprise of 0.89%. Moreover, the bottom line surpassed the Zacks Consensus Estimate in two of the trailing four quarters, the average beat being 0.66%.
Let’s see, how things are shaping up at the company prior to this announcement.
Factors at Play
During most of the fourth quarter, PG&E Corp witnessed colder-than-normal temperature in its service territory, indicating at an increase in demand for electricity. This in turn, is likely to boost the company’s quarterly revenues. In line with this, the Zacks Consensus Estimate for the top line is pegged at $4.29 billion, reflecting a 4.5% year-over-year increase.
However, wide parts of California got affected by wildfires during the fourth quarter. This is likely to weigh on the company’s quarterly earnings growth. Notably, the Zacks Consensus Estimate of 62 cents for PG&E’s quarterly earnings reflects a 1.6% drop from the year-ago quarter’s figure.
In addition, PG&E Corp has filed for bankruptcy in January 2019. No doubt, this decision was made pertaining to the company’s liabilities resulting from the 2017 and 2018 wildfires. We can expect the soon-to-be-reported results to give us further insight into this matter.
Pacific Gas & Electric Co. Price and EPS Surprise
Pacific Gas & Electric Co. Price and EPS Surprise | Pacific Gas & Electric Co. Quote
Earnings Whispers
Our proven model does not conclusively show that PG&E Corp is likely to beat estimates in the fourth quarter. This is because a stock needs to have both — a positive Earnings ESP and a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) — for this to happen. But that is not the case here as you will see below.
Earnings ESP: PG&E Corp has 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: PG&E Corp has a Zacks Rank #3, which increases the predictive power of ESP but an Earnings ESP of 0.00% makes surprise prediction difficult.
We caution against Sell-rated stocks (Zacks Rank #4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Upcoming Utilities
Edison International (EIX - Free Report) has a Zacks Rank #3. The company is slated to report fourth-quarter 2018 results on Feb 28. You can see the complete list of today’s Zacks #1 Rank stocks here.
PNM Resources, Inc. (PNM - Free Report) carries a Zacks Rank #3. The company is slated to report fourth-quarter 2018 results on Feb 27.
CenterPoint Energy, Inc. (CNP - Free Report) carries a Zacks Rank #3. The company is slated to report fourth-quarter 2018 results on Feb 28.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>