Sempra Energy (SRE - Free Report) , an energy services holding company, engages in the sale, distribution, storage and transportation of electricity and natural gas. The San Diego, CA-based firm’s businesses are divided into California Utilities, Sempra International and Sempra U.S. Gas & Power.
Sempra Energy’s stable cash generating capacity, several development projects, steady focus on expansion of renewable capacity and systematic asset divestment strategy is expected to boost its future performance. In addition, the company’s practice of paying dividend is commendable.
However, stringent government regulations and several operational risks remain potential setbacks.
Estimate Trend & Surprise History
Investors should note that the recent earnings estimate for Sempra Energy of 80 cents has increased by a nickel over the past 30 days. The company currently has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Coming to the earnings surprise, Sempra Energy has surpassed the Zacks Consensus Estimate in three of the last four quarters with an average positive beat of 0.16%.
Going further things could definitely change given the company’s recently released earnings results. Going below we have mentioned some of the vital information from this just-revealed announcement:
Earnings: Sempra Energy surpassed the earnings expectation. Our consensus called for second-quarter EPS of 80 cents, and the company reported adjusted EPS of $1.10.
Revenues: The company also exceeded the revenue expectation. Our consensus called for second-quarter revenues of $2,517.2 million, and the company reported revenues of $2,533 million.
Key Stats to Note: The company has raised its 2017 earnings-per-share expectation to the band of $5.00–$5.30 from the prior guidance range of $4.85 to $5.25.
Check back later for our full write up on this SRE earnings report later!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>