Wall Street analysts forecast that PSEG (PEG) will report quarterly earnings of $1.01 per share in its upcoming release, pointing to a year-over-year increase of 12.2%. It is anticipated that revenues will amount to $2.73 billion, exhibiting an increase of 3.3% compared to the year-ago quarter.
The current level reflects a downward revision of 1.5% 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.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance 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.
Given this perspective, it's time to examine the average forecasts of specific PSEG metrics that are routinely monitored and predicted by Wall Street analysts.
The average prediction of analysts places 'Revenue- PSE&G' at $2.29 billion. The estimate points to a change of +7.3% from the year-ago quarter.
Based on the collective assessment of analysts, 'Revenue- PSEG Power & Other' should arrive at $426.88 million. The estimate points to a change of -26.9% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Gas sold and Transported - Total' of 415 million of dekatherm. Compared to the current estimate, the company reported 436 million of dekatherm in the same quarter of the previous year.
According to the collective judgment of analysts, 'Electric sales' should come in at N/A. Compared to the present estimate, the company reported N/A in the same quarter last year.
Analysts forecast 'Gas Sold and Transported - Total Non-Firm Sales' to reach 225 million of dekatherm. Compared to the current estimate, the company reported 249 million of dekatherm in the same quarter of the previous year.
The consensus estimate for 'Gas Sold and Transported - Total Firm Sales' stands at 190 million of dekatherm. Compared to the current estimate, the company reported 187 million of dekatherm in the same quarter of the previous year.
It is projected by analysts that the 'Operating Income- Power & Other' will reach $50.62 million. The estimate compares to the year-ago value of $59.00 million.
The combined assessment of analysts suggests that 'Operating Income- PSE&G' will likely reach $678.92 million. The estimate compares to the year-ago value of $582.00 million.
View all Key Company Metrics for PSEG here>>>
PSEG shares have witnessed a change of -2.6% in the past month, in contrast to the Zacks S&P 500 composite's +3.8% move. With a Zacks Rank #3 (Hold), PEG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Public Service Enterprise Group Incorporated (PEG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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