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PG&E Corporation (PCG) Lags Q3 Earnings & Revenue Estimates
November 04, 2016

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PG&E Corporation(PCG - Free Report) , a diversified utility holding company, engages in the business of electricity and natural gas distribution; electricity generation, procurement, and transmission; and natural gas procurement, transportation and storage.

Stable financial position, steady growth in customer counts, a well-set of utility assets and disciplined investments in infrastructure projects will likely boost PG&E Corp.’s future performance In addition, the company’s practice of paying dividend is commendable.

However, penalties levied for the San Bruno and Carmel incidents, stringent environmental regulations and several operational risks remain potential setbacks.

PG&E CORP Price and EPS Surprise

Estimate Trend & Surprise History

Investors should note that the third quarter Zacks Consensus Estimate for earnings of $1.10 per share has decreased by 11.3% in the last 30 days.

Coming to the earnings surprise, PG&E Corporation has missed the Zacks Consensus Estimate in two out of the last four quarters, resulting in a negative average surprise of 4.87%.

Zacks Rank: Currently, PG&E Corporationhas 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 mentioned below some of the vital information from this just-revealed announcement:

Earnings:PG&E Corporation’s earnings were lower than the earnings estimates. Adjusted earnings per share came in at 94 cents, lagging the Zacks Consensus Estimate of $1.10 per share by 14.5%.

Revenue:Revenues of $4,810 million missed the Zacks Consensus Estimate of $4,954 million by 1.1%

Stock Price: It would be interesting to see how the market reacts to the earnings release during the trading session today.

Check back later for our full write up on this PCG earnings report later!

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