NRG Energy, Inc. (NRG - Free Report) is scheduled to release third-quarter 2020 results on Nov 5, before the market opens. The company witnessed a negative earnings surprise of 16.99% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Strong demand from the residential customers and a gradual improvement in demand from the Commercial and Industrial (C&I) group with the relaxation of restrictions are likely to drive third-quarter results. The company repurchased shares worth $228 million through Aug 6, 2020. Lower outstanding shares are expected to have positively impacted earnings in the third quarter.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.01, indicating a 46.28% decrease from the year-ago period’s reported figure.
What Our Quantitative Model Suggests
Our proven model doesn’t conclusively predict an earnings beat for NRG Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: NRG Energy 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: Currently, NRG Energy carries a Zacks Rank #3.
Stocks to Consider
Here are some players from the Utilities sector that have the right combination of elements to beat on earnings in the to-be-reported quarter.
Pinnacle West Capital (PNW - Free Report) is expected to release third-quarter numbers on Oct 30. It has an Earnings ESP of +0.98% and a Zacks Rank of 3, currently.
NiSource Inc. (NI - Free Report) is set to release third-quarter 2020 numbers on Nov 2. It has an Earnings ESP of +150.00% and is currently Zacks #3 Ranked.
SJW Group (SJW - Free Report) is set to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank of 3 at present.
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NRG Energy, Inc. (NRG - Free Report) is scheduled to release third-quarter 2020 results on Nov 5, before the market opens. The company witnessed a negative earnings surprise of 16.99% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Strong demand from the residential customers and a gradual improvement in demand from the Commercial and Industrial (C&I) group with the relaxation of restrictions are likely to drive third-quarter results. The company repurchased shares worth $228 million through Aug 6, 2020. Lower outstanding shares are expected to have positively impacted earnings in the third quarter.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.01, indicating a 46.28% decrease from the year-ago period’s reported figure.
What Our Quantitative Model Suggests
Our proven model doesn’t conclusively predict an earnings beat for NRG Energy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. But that is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: NRG Energy 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: Currently, NRG Energy carries a Zacks Rank #3.
Stocks to Consider
Here are some players from the Utilities sector that have the right combination of elements to beat on earnings in the to-be-reported quarter.
Pinnacle West Capital (PNW - Free Report) is expected to release third-quarter numbers on Oct 30. It has an Earnings ESP of +0.98% and a Zacks Rank of 3, currently.
NiSource Inc. (NI - Free Report) is set to release third-quarter 2020 numbers on Nov 2. It has an Earnings ESP of +150.00% and is currently Zacks #3 Ranked.
SJW Group (SJW - Free Report) is set to release third-quarter 2020 results on Nov 4. It has an Earnings ESP of +2.15% and a Zacks Rank of 3 at present.
Looking for Stocks with Skyrocketing Upside?
Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.
Ignited by referendums and legislation, this industry is expected to blast from an already robust $17.7 billion in 2019 to a staggering $73.6 billion by 2027. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
See the pot stocks we're targeting >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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