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Algonquin Power (AQN) to Post Q2 Earnings: What's in Store?
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Algonquin Power & Utilities Corp. (AQN - Free Report) is set to release second-quarter 2019 results on Aug 8, after market close. In the last reported quarter, the company reported negative earnings surprise of 13.64%.
Let’s see how things are shaping up prior to the quarterly announcement.
Factors in Play
Algonquin Power’s objective is to develop renewable operations through steady investments.Two wind and solar facilities of Liberty Power are expected to boost second quarter’s EBITDA. Completed rate reviews in Georgia and Massachusetts are expected to make a positive impact on quarterly results.
Q2 Expectations
The Zacks Consensus Estimate for total revenues in the second quarter is pegged at $372.4 million, which indicates growth of 1.68% on a year-over-year basis. The consensus mark for earnings is at 13 cents per share, suggesting an increase of 18.18% on a year-over-year basis.
Algonquin Power & Utilities Corp. Price and EPS Surprise
Our proven model does not show that Algonquin Power is likely to beat estimates in second-quarter 2019. This is because a stock needs to have a positive Earnings ESP and a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. But that is not the case here as you will see below.
Earnings ESP: Algonquin Power has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Meanwhile, we caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Other Releases
American Electric Power Co., Inc (AEP - Free Report) reported second-quarter 2019 adjusted earnings per share of $1.00, which surpassed the Zacks Consensus Estimate of 98 cents by 2%.
NextEra Energy (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.
Eversource Energy (ES - Free Report) reported second-quarter 2019 operating earnings of 74 cents per share, which beat the Zacks Consensus Estimate by a penny.
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Algonquin Power (AQN) to Post Q2 Earnings: What's in Store?
Algonquin Power & Utilities Corp. (AQN - Free Report) is set to release second-quarter 2019 results on Aug 8, after market close. In the last reported quarter, the company reported negative earnings surprise of 13.64%.
Let’s see how things are shaping up prior to the quarterly announcement.
Factors in Play
Algonquin Power’s objective is to develop renewable operations through steady investments.Two wind and solar facilities of Liberty Power are expected to boost second quarter’s EBITDA. Completed rate reviews in Georgia and Massachusetts are expected to make a positive impact on quarterly results.
Q2 Expectations
The Zacks Consensus Estimate for total revenues in the second quarter is pegged at $372.4 million, which indicates growth of 1.68% on a year-over-year basis. The consensus mark for earnings is at 13 cents per share, suggesting an increase of 18.18% on a year-over-year basis.
Algonquin Power & Utilities Corp. Price and EPS Surprise
Algonquin Power & Utilities Corp. price-eps-surprise | Algonquin Power & Utilities Corp. Quote
Earnings Whispers
Our proven model does not show that Algonquin Power is likely to beat estimates in second-quarter 2019. This is because a stock needs to have a positive Earnings ESP and a favorable Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) for this to happen. But that is not the case here as you will see below.
Earnings ESP: Algonquin Power has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Algonquin Power has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Meanwhile, we caution against Sell-rated stocks (#4 or 5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
Other Releases
American Electric Power Co., Inc (AEP - Free Report) reported second-quarter 2019 adjusted earnings per share of $1.00, which surpassed the Zacks Consensus Estimate of 98 cents by 2%.
NextEra Energy (NEE - Free Report) reported second-quarter 2019 adjusted earnings of $2.35 per share, which beat the Zacks Consensus Estimate of $2.28 by 3.1%.
Eversource Energy (ES - Free Report) reported second-quarter 2019 operating earnings of 74 cents per share, which beat the Zacks Consensus Estimate by a penny.
The Hottest Tech Mega-Trend of All
Last year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>