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Public Service (PEG) Tops Q3 Earnings, Misses Sales Estimates
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Newark, NJ-based Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.
Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.
The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for earnings of 81 cents per share has increased by a penny over the last 7 days.
Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 1.92%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise reported adjusted operating earnings per share of 88 cents, beating the Zacks Consensus Estimate of 81 cents by 8.6%.
Revenue: Revenues of $2,450 million missed the Zacks Consensus Estimate of $2,543 million by 3.7%.
Key Stats:During the reported quarter, Electric sales volume improved 3.6% year over year to 12,792 million kilowatt-hours, while Gas sales volume decreased 0.5% to 861 million therms.
Guidance: The company reduced the lower limit of its 2016 earnings. The company now expects EPS to be in the range of $2.80–$2.95, compared to the earlier guided range $2.80 –$3.00.
Stock Price: It would be interesting to see how the market reacts to the second quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
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Public Service (PEG) Tops Q3 Earnings, Misses Sales Estimates
Newark, NJ-based Public Service Enterprise Group Inc. (PEG - Free Report) or PSEG is a diversified utility holding company. Its operations are mostly located in the Northeastern and Mid-Atlantic parts of the U.S.
Public Service Enterprise has a solid portfolio of regulated and non-regulated utility assets that offer a stable earnings and significant long-term growth potential.
The company has invested substantially to improve the reliability and efficiency of transmission and distribution systems. Public Service Enterprise Group is now working to add renewable generation in its portfolio to lower carbon emission.
Estimate Trend & Surprise History
Investors should note that the third quarter Zacks Consensus Estimate for earnings of 81 cents per share has increased by a penny over the last 7 days.
Coming to the earnings surprise, Public Service Enterprise has surpassed the Zacks Consensus Estimate in three of the last four quarters, resulting in a positive average surprise of 1.92%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank#3 (Hold) but that could change following its third quarter 2016 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise reported adjusted operating earnings per share of 88 cents, beating the Zacks Consensus Estimate of 81 cents by 8.6%.
PUBLIC SV ENTRP Price and EPS Surprise
PUBLIC SV ENTRP Price and EPS Surprise | PUBLIC SV ENTRP Quote
Revenue: Revenues of $2,450 million missed the Zacks Consensus Estimate of $2,543 million by 3.7%.
Key Stats:During the reported quarter, Electric sales volume improved 3.6% year over year to 12,792 million kilowatt-hours, while Gas sales volume decreased 0.5% to 861 million therms.
Guidance: The company reduced the lower limit of its 2016 earnings. The company now expects EPS to be in the range of $2.80–$2.95, compared to the earlier guided range $2.80 –$3.00.
Stock Price: It would be interesting to see how the market reacts to the second quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>