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What's in the Cards for Atlantic Power (AT) in Q3 Earnings?
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Atlantic Power Corporation is scheduled to release third-quarter 2019 earnings on Oct 31. Notably, the company delivered an average positive earnings surprise of 93.04% in the last four quarters.
Factors to Consider
Atlantic Power’s third-quarter earnings are likely to have benefited from the completion of the minority interest acquisition of two biomass plants. Moreover, the buyout of Allendale and Dorchester must have boosted the company’s liquidity in the third quarter.
The company’s focus on lowering debt is expected to have strengthened its balance sheet. However, intermittent wind and solar projects are likely to have increased grid cost and in turn, impacted the company’s third-quarter performance.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 5 cents, which calls for year-over-year increase of 266.67%.
Our proven model does not conclusively predict an earnings beat for Atlantic Power 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. But’s that’s is not the case here. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Earnings ESP: The company’s 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: Currently, Atlantic Power carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Eversource Energy (ES - Free Report) is slated to release third-quarter 2019 results on Nov 6. It has an Earnings ESP of +1.06% and a Zacks Rank #2.
Exelon Corporation (EXC - Free Report) is set to release third-quarter 2019 numbers on Oct 31. It has an Earnings ESP of +0.06% and carries a Zacks Rank #3.
PPL Corporation (PPL - Free Report) is scheduled to release third-quarter 2019 results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3.
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What's in the Cards for Atlantic Power (AT) in Q3 Earnings?
Atlantic Power Corporation is scheduled to release third-quarter 2019 earnings on Oct 31. Notably, the company delivered an average positive earnings surprise of 93.04% in the last four quarters.
Factors to Consider
Atlantic Power’s third-quarter earnings are likely to have benefited from the completion of the minority interest acquisition of two biomass plants. Moreover, the buyout of Allendale and Dorchester must have boosted the company’s liquidity in the third quarter.
The company’s focus on lowering debt is expected to have strengthened its balance sheet. However, intermittent wind and solar projects are likely to have increased grid cost and in turn, impacted the company’s third-quarter performance.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at 5 cents, which calls for year-over-year increase of 266.67%.
Atlantic Power Corporation Price and EPS Surprise
Atlantic Power Corporation price-eps-surprise | Atlantic Power Corporation Quote
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Atlantic Power 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. But’s that’s is not the case here. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Earnings ESP: The company’s 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: Currently, Atlantic Power carries a Zacks Rank #3.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Eversource Energy (ES - Free Report) is slated to release third-quarter 2019 results on Nov 6. It has an Earnings ESP of +1.06% and a Zacks Rank #2.
Exelon Corporation (EXC - Free Report) is set to release third-quarter 2019 numbers on Oct 31. It has an Earnings ESP of +0.06% and carries a Zacks Rank #3.
PPL Corporation (PPL - Free Report) is scheduled to release third-quarter 2019 results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +98%, +119% and +164% in as little as 1 month. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>