Brokerages Expect Eversource Energy (NYSE:ES) Will Post Earnings of $0.79 Per Share

Wall Street analysts expect Eversource Energy (NYSE:ES) to announce earnings of $0.79 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Eversource Energy’s earnings. The highest EPS estimate is $0.81 and the lowest is $0.76. Eversource Energy posted earnings of $0.74 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 6.8%. The business is expected to announce its next earnings report on Wednesday, July 29th.

According to Zacks, analysts expect that Eversource Energy will report full year earnings of $3.64 per share for the current fiscal year, with EPS estimates ranging from $3.62 to $3.66. For the next fiscal year, analysts expect that the firm will post earnings of $3.88 per share, with EPS estimates ranging from $3.85 to $3.92. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Eversource Energy.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.01. Eversource Energy had a return on equity of 9.16% and a net margin of 11.02%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm earned $0.97 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis.

A number of research firms have recently weighed in on ES. Barclays dropped their target price on Eversource Energy from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday, May 22nd. UBS Group lifted their target price on Eversource Energy from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $96.00 price target for the company in a research note on Monday, April 13th. Evercore ISI raised Eversource Energy from an “underperform” rating to an “in-line” rating and dropped their price target for the company from $93.00 to $91.00 in a research note on Monday, April 20th. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $97.00 price target for the company in a research note on Tuesday, May 12th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $90.06.

Several large investors have recently added to or reduced their stakes in ES. Advisory Alpha LLC bought a new stake in Eversource Energy in the first quarter valued at approximately $29,000. Lloyd Advisory Services LLC. bought a new stake in Eversource Energy in the fourth quarter valued at approximately $33,000. Versant Capital Management Inc boosted its holdings in Eversource Energy by 36.9% in the first quarter. Versant Capital Management Inc now owns 456 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 123 shares during the last quarter. Covington Capital Management bought a new stake in Eversource Energy in the fourth quarter valued at approximately $41,000. Finally, Elmwood Wealth Management Inc. bought a new stake in Eversource Energy in the first quarter valued at approximately $41,000. Institutional investors own 78.18% of the company’s stock.

Shares of ES traded down $0.44 during midday trading on Tuesday, reaching $84.67. 1,192,430 shares of the stock were exchanged, compared to its average volume of 1,915,837. Eversource Energy has a twelve month low of $60.69 and a twelve month high of $99.42. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a market cap of $28.49 billion, a P/E ratio of 29.71, a PEG ratio of 3.79 and a beta of 0.34. The stock’s 50 day simple moving average is $82.51 and its 200 day simple moving average is $85.20.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 20th were given a $0.5675 dividend. This represents a $2.27 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Tuesday, May 19th. Eversource Energy’s dividend payout ratio is presently 65.80%.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Earnings History and Estimates for Eversource Energy (NYSE:ES)

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