In its upcoming report, Eversource Energy (ES) is predicted by Wall Street analysts to post quarterly earnings of $1.59 per share, reflecting an increase of 6% compared to the same period last year. Revenues are forecasted to be $4.21 billion, representing a year-over-year increase of 2.3%.
The consensus EPS estimate for the quarter has been revised 2.2% lower 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.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions 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.
That said, let's delve into the average estimates of some Eversource metrics that Wall Street analysts commonly model and monitor.
The combined assessment of analysts suggests that 'Operating Income- Natural Gas Distribution' will likely reach $349.47 million. The estimate is in contrast to the year-ago figure of $308.70 million.
Analysts forecast 'Operating Income- Electric Distribution' to reach $280.83 million. The estimate compares to the year-ago value of $274.70 million.
Based on the collective assessment of analysts, 'Operating Income- Electric Transmission' should arrive at $320.99 million. Compared to the present estimate, the company reported $295.50 million in the same quarter last year.
View all Key Company Metrics for Eversource here>>>Over the past month, shares of Eversource have remained unchanged versus the Zacks S&P 500 composite's +9.5% change. Currently, ES 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 >>>> .
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Eversource Energy (ES): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).