Wall Street analysts expect CenterPoint Energy (CNP) to post quarterly earnings of $0.38 per share in its upcoming report, which indicates a year-over-year increase of 5.6%. Revenues are expected to be $1.94 billion, up 1.8% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone an upward revision of 2.9% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific CenterPoint metrics that are commonly monitored and projected by Wall Street analysts.
Analysts forecast 'Revenues- Electric Transmission and Distribution' to reach $1.22 billion. The estimate suggests a change of +1.4% year over year.
The consensus estimate for 'Revenues- Natural Gas Distribution' stands at $726.86 million. The estimate suggests a change of +4.6% year over year.
The collective assessment of analysts points to an estimated 'Revenues- Utility' of $1.98 billion. The estimate indicates a change of +4.4% from the prior-year quarter.
Analysts predict that the 'Operating Income / (loss)- Natural Gas Distribution' will reach $147.12 million. Compared to the current estimate, the company reported $120.00 million in the same quarter of the previous year.
The combined assessment of analysts suggests that 'Operating Income / (loss)- Electric Transmission and Distribution' will likely reach $370.85 million. The estimate is in contrast to the year-ago figure of $346.00 million.
View all Key Company Metrics for CenterPoint here>>>
Shares of CenterPoint have demonstrated returns of +4.2% over the past month compared to the Zacks S&P 500 composite's +5.4% change. With a Zacks Rank #2 (Buy), CNP is expected to beat the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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CenterPoint Energy, Inc. (CNP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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