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Eversource (ES) to Report Q2 Earnings: What's in the Cards?
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Eversource Energy (ES - Free Report) is scheduled to report second-quarter 2019 financial results on Aug 1, before the opening bell. The utility delivered a negative earnings surprise of 6.59% in the last reported quarter.
Let’s see how things are shaping up for this earnings season.
Factors to Consider
Eversource’s second-quarter earnings are expected to benefit from electric rate increases in its Connecticut Light and Power Company (CL&P) service territories. Earnings are also anticipated to get a boost from the water distribution segment and cost-saving initiatives undertaken by the company. However, higher interest expenses could offset some of the positives.
The Zacks Consensus Estimate for the second quarter is pegged at 73 cents, which indicates growth of 3.95% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model shows that Eversource Energy is unlikely to beat estimates in the to-be-reported quarter. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate), and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. It does not have right mix as you can see below.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP of the company is pegged at 0.00%.
Zacks Rank: It currently carries a Zacks Rank #3. Its favorable rank, when combined with the 0.00% ESP, lowers the possibility of an earnings surprise in the to-be-reported quarter.
We caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few companies worth considering from the same industry, as these have the right combination of elements to beat on earnings in the upcoming releases.
Southern Company (SO - Free Report) is set to release second-quarter results on Jul 31. It has an Earnings ESP of +0.46% and a Zacks Rank of 3.
Black Hills Corporation (BKH - Free Report) is scheduled to release second-quarter results on Aug 5. It has an Earnings ESP of +0.75% and a Zacks Rank of 3.
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Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
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Eversource (ES) to Report Q2 Earnings: What's in the Cards?
Eversource Energy (ES - Free Report) is scheduled to report second-quarter 2019 financial results on Aug 1, before the opening bell. The utility delivered a negative earnings surprise of 6.59% in the last reported quarter.
Let’s see how things are shaping up for this earnings season.
Factors to Consider
Eversource’s second-quarter earnings are expected to benefit from electric rate increases in its Connecticut Light and Power Company (CL&P) service territories. Earnings are also anticipated to get a boost from the water distribution segment and cost-saving initiatives undertaken by the company. However, higher interest expenses could offset some of the positives.
The Zacks Consensus Estimate for the second quarter is pegged at 73 cents, which indicates growth of 3.95% from the year-ago reported figure.
What Our Quantitative Model Predicts
Our proven model shows that Eversource Energy is unlikely to beat estimates in the to-be-reported quarter. A stock needs to have both a positive Earnings ESP (which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate), and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. It does not have right mix as you can see below.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: Earnings ESP of the company is pegged at 0.00%.
Eversource Energy Price and EPS Surprise
Eversource Energy price-eps-surprise | Eversource Energy Quote
Zacks Rank: It currently carries a Zacks Rank #3. Its favorable rank, when combined with the 0.00% ESP, lowers the possibility of an earnings surprise in the to-be-reported quarter.
We caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are a few companies worth considering from the same industry, as these have the right combination of elements to beat on earnings in the upcoming releases.
Entergy Corporation (ETR - Free Report) is expected to release second-quarter results on Jul 31. It has an Earnings ESP of +1.40% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Southern Company (SO - Free Report) is set to release second-quarter results on Jul 31. It has an Earnings ESP of +0.46% and a Zacks Rank of 3.
Black Hills Corporation (BKH - Free Report) is scheduled to release second-quarter results on Aug 5. It has an Earnings ESP of +0.75% and a Zacks Rank of 3.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 7 stocks to watch. The report is only available for a limited time.
See 7 breakthrough stocks now>>