The upcoming report from Eversource Energy (ES) is expected to reveal quarterly earnings of $1.11 per share, indicating an increase of 9.9% compared to the year-ago period. Analysts forecast revenues of $3.53 billion, representing an increase of 18.9% year over year.
Over the last 30 days, there has been a downward revision of 4.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific Eversource metrics that are commonly monitored and projected by Wall Street analysts.
The consensus estimate for 'Operating Income- Electric Distribution' stands at $149.77 million. The estimate compares to the year-ago value of $178.10 million.
Analysts predict that the 'Operating Income- Electric Transmission' will reach $304.01 million. The estimate is in contrast to the year-ago figure of $276.90 million.
The collective assessment of analysts points to an estimated 'Operating Income- Natural Gas Distribution' of $157.71 million. The estimate is in contrast to the year-ago figure of $149.60 million.
View all Key Company Metrics for Eversource here>>>
Over the past month, Eversource shares have recorded returns of -1.6% versus the Zacks S&P 500 composite's no change. Based on its Zacks Rank #2 (Buy), ES will likely outperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Eversource Energy (ES): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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