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Evergy (EVRG) to Report Q3 Earnings: What's in the Offing?
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Evergy, Inc. (EVRG - Free Report) is set to release third-quarter 2020 results on Nov 5, before the market opens. In the last reported quarter, the company delivered a negative earnings surprise of 2.9%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Evergy’s cost-management initiatives and lower average outstanding shares are likely to have positively impacted third-quarter earnings. With the gradual reopening of the economy, demand from commercial and industrial (C&I) customers might have improved from the lows touched in the previous quarter. Steady demand from residential customers is likely to have offset some of demand decline from the C&I group in the third quarter.
Expectation
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.65, indicating growth of 5.1% from the year-ago reported figure.
Our proven model does not conclusively predict an earnings beat for Evergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Earnings ESP: Its Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Evergy currently holds a Zacks Rank #3.
Stocks to Consider
Here are some players from the same sector that are worth considering, as these have the right combination of elements to deliver an earnings beat in the upcoming releases.
Marathon Oil Corporation (MRO - Free Report) is set to release second-quarter results on Nov 4. It has an Earnings ESP of +1.50% and a Zacks Rank of 3.
Cheniere Energy, Inc. (LNG - Free Report) is set to release third-quarter results on Nov 6. It has an Earnings ESP of +31.36% and a Zacks Rank of 3.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 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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Evergy (EVRG) to Report Q3 Earnings: What's in the Offing?
Evergy, Inc. (EVRG - Free Report) is set to release third-quarter 2020 results on Nov 5, before the market opens. In the last reported quarter, the company delivered a negative earnings surprise of 2.9%.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Consider
Evergy’s cost-management initiatives and lower average outstanding shares are likely to have positively impacted third-quarter earnings. With the gradual reopening of the economy, demand from commercial and industrial (C&I) customers might have improved from the lows touched in the previous quarter. Steady demand from residential customers is likely to have offset some of demand decline from the C&I group in the third quarter.
Expectation
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.65, indicating growth of 5.1% from the year-ago reported figure.
Evergy Inc. Price and EPS Surprise
Evergy Inc. price-eps-surprise | Evergy Inc. Quote
What Our Quantitative Model Indicates
Our proven model does not conclusively predict an earnings beat for Evergy this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below.
Earnings ESP: Its Earnings ESP is 0.00%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Evergy currently holds a Zacks Rank #3.
Stocks to Consider
Here are some players from the same sector that are worth considering, as these have the right combination of elements to deliver an earnings beat in the upcoming releases.
DCP Midstream LP is set to release third-quarter results on Nov 4. It has an Earnings ESP of +4.77% and sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Marathon Oil Corporation (MRO - Free Report) is set to release second-quarter results on Nov 4. It has an Earnings ESP of +1.50% and a Zacks Rank of 3.
Cheniere Energy, Inc. (LNG - Free Report) is set to release third-quarter results on Nov 6. It has an Earnings ESP of +31.36% and a Zacks Rank of 3.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 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 >>