Dominion Energy Inc. (D - Free Report) is scheduled to report third-quarter 2019 results on Nov 1, before the opening bell. The company came up with a positive earnings surprise of 2.67% in the last reported quarter.
Let’s see how things have shaped up before the upcoming earnings announcement.
Factors to Consider
Dominion Energy’s third-quarter earnings are expected to have gained from regulated investment across electric and gas businesses, as well as contribution from the Southeast Energy Group. In addition, proper management of operation and maintenance expenses is likely to have had a positive impact on its third-quarter earnings. However, higher share count, sale of assets, normal weather and farmout timings are likely to have offset these positives to some extent.
Dominion Energy expects third-quarter earnings in the range of $1.00-$1.20 per share. The bottom line was $1.15 per share in the year-ago period. The Zacks Consensus Estimate for the same is pegged at $1.16 per share, indicating an increase of 0.9% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Dominion Energy this season. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. That is not the case here as you will see below.
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: Dominion Energy carries a Zacks Rank #2.
Stocks to Consider
Investors may consider the following companies from the same industry that have the right combination of elements to beat earnings estimates in the quarter to be reported:
PNM Resources Inc. (PNM - Free Report) is slated to release third-quarter results on Nov 1. It has an Earnings ESP of +1.99% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Pattern Energy Group Inc. (PEGI - Free Report) is set to release third-quarter results on Nov 4. It has an Earnings ESP of +2,100.00% and a Zacks Rank of 2.
Eversource Energy (ES - Free Report) is scheduled to release third-quarter results on Nov 5. It has an Earnings ESP of +1.06% and a Zacks Rank of 2.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>