In its upcoming report, PSEG (PEG) is predicted by Wall Street analysts to post quarterly earnings of $1.47 per share, reflecting an increase of 2.8% compared to the same period last year. Revenues are forecasted to be $3.29 billion, representing a year-over-year increase of 2.1%.
The consensus EPS estimate for the quarter has been revised 3.2% higher over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during 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 investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
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.
Based on the collective assessment of analysts, 'Revenue- PSE&G' should arrive at $2.78 billion. The estimate indicates a change of +4.4% from the prior-year quarter.
The consensus among analysts is that 'Operating Income- PSEG Power & Other' will reach $278.18 million. Compared to the current estimate, the company reported $83.00 million in the same quarter of the previous year.
Analysts expect 'Operating Income- PSE&G' to come in at $797.97 million. Compared to the present estimate, the company reported $714.00 million in the same quarter last year.
View all Key Company Metrics for PSEG here>>>Shares of PSEG have demonstrated returns of -0.2% over the past month compared to the Zacks S&P 500 composite's +10.5% change. With a Zacks Rank #3 (Hold), PEG is expected to mirror 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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Public Service Enterprise Group Incorporated (PEG): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).