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Public Service Enterprise (PEG) Tops Q1 Earnings Estimate
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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 first quarter Zacks Consensus Estimate for earnings of 84 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 3.69%.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise surpassed earnings estimate. Operating earnings per share came in at 92 cents, beating the Zacks Consensus Estimate of 84 cents by 9.5%.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Revenue: Revenues of $2,592 million surpassed the Zacks Consensus Estimate of $2,563 million by 1.1%.
Key Stats: During the reported quarter, Electric sales volume increased 1.6% year over year to 9,889 million kilowatt-hours, while Gas sales volume decreased 3.5% to 1,444 million therms.
Guidance: The company reaffirmed its 2017 earnings guidance in the range of $2.80 –$3.00 per share.
Stock Price: It would be interesting to see how the market reacts to the fourth quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 ""Strong Sells."" Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>
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Public Service Enterprise (PEG) Tops Q1 Earnings Estimate
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 first quarter Zacks Consensus Estimate for earnings of 84 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 3.69%.
Zacks Rank: Currently, Public Service Enterprise has a Zacks Rank#3 (Hold) but that could change following its first quarter 2017 earnings report which has just released. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: Public Service Enterprise surpassed earnings estimate. Operating earnings per share came in at 92 cents, beating the Zacks Consensus Estimate of 84 cents by 9.5%.
Public Service Enterprise Group Incorporated Price and EPS Surprise
Public Service Enterprise Group Incorporated Price and EPS Surprise | Public Service Enterprise Group Incorporated Quote
Revenue: Revenues of $2,592 million surpassed the Zacks Consensus Estimate of $2,563 million by 1.1%.
Key Stats: During the reported quarter, Electric sales volume increased 1.6% year over year to 9,889 million kilowatt-hours, while Gas sales volume decreased 3.5% to 1,444 million therms.
Guidance: The company reaffirmed its 2017 earnings guidance in the range of $2.80 –$3.00 per share.
Stock Price: It would be interesting to see how the market reacts to the fourth quarter earnings beat during the trading session today.
Check back later for our full write up on this PEG earnings report later!
The Best & Worst of Zacks
Today you are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 ""Strong Buys"" free of charge. From 1988 through 2015 this list has averaged a stellar gain of +25% per year. Plus, you may download 220 Zacks Rank #5 ""Strong Sells."" Even though this list holds many stocks that seem to be solid, it has historically performed 6X worse than the market. See these critical buys and sells free >>