In its upcoming report, CenterPoint Energy (CNP) is predicted by Wall Street analysts to post quarterly earnings of $0.46 per share, reflecting an increase of 15% compared to the same period last year. Revenues are forecasted to be $2.33 billion, representing a year-over-year increase of 2.9%.
Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
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 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.
That said, let's delve into the average estimates of some CenterPoint metrics that Wall Street analysts commonly model and monitor.
It is projected by analysts that the 'Revenues- Electric Transmission and Distribution' will reach $1.15 billion. The estimate suggests a change of +5.5% year over year.
Analysts forecast 'Revenues- Natural Gas Distribution' to reach $1.20 billion. The estimate suggests a change of +2.6% year over year.
Analysts predict that the 'Revenues- Utility' will reach $2.31 billion. The estimate suggests a change of +2.6% year over year.
The average prediction of analysts places 'Operating Income / (loss)- Natural Gas Distribution' at $300.31 million. The estimate is in contrast to the year-ago figure of $275.00 million.
The consensus estimate for 'Operating Income / (loss)- Electric Transmission and Distribution' stands at $317.31 million. The estimate is in contrast to the year-ago figure of $215.00 million.
View all Key Company Metrics for CenterPoint here>>>
Over the past month, shares of CenterPoint have returned +6% versus the Zacks S&P 500 composite's -2% change. Currently, CNP carries a Zacks Rank #4 (Sell), suggesting that it may underperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CenterPoint Energy, Inc. (CNP): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
