Wall Street analysts forecast that Xcel Energy (XEL) will report quarterly earnings of $1.31 per share in its upcoming release, pointing to a year-over-year increase of 4.8%. It is anticipated that revenues will amount to $3.93 billion, exhibiting an increase of 7.8% compared to the year-ago quarter.
The current level reflects a downward revision of 1.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
Given this perspective, it's time to examine the average forecasts of specific Xcel metrics that are routinely monitored and predicted by Wall Street analysts.
Analysts' assessment points toward 'Operating revenues- Electric and natural gas' reaching $3.95 billion. The estimate indicates a year-over-year change of +8.9%.
The consensus among analysts is that 'Operating revenues- Other' will reach -$51.95 million. The estimate suggests a change of -532.9% year over year.
According to the collective judgment of analysts, 'Operating revenues- Natural Gas' should come in at $360.27 million. The estimate indicates a change of +50.7% from the prior-year quarter.
Based on the collective assessment of analysts, 'Operating revenues- Electric' should arrive at $3.58 billion. The estimate suggests a change of +5.5% year over year.
View all Key Company Metrics for Xcel here>>>
Over the past month, shares of Xcel have returned +0.8% versus the Zacks S&P 500 composite's +3.6% change. Currently, XEL carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Xcel Energy Inc. (XEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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