Analysts Expect Public Service Enterprise Group Inc. (NYSE:PEG) Will Post Quarterly Sales of $2.55 Billion
Brokerages predict that Public Service Enterprise Group Inc. (NYSE:PEG) will post $2.55 billion in sales for the current quarter, Zacks reports. Two analysts have made estimates for Public Service Enterprise Group’s earnings. The lowest sales estimate is $2.40 billion and the highest is $2.69 billion. Public Service Enterprise Group posted sales of $2.39 billion during the same quarter last year, which suggests a positive year over year growth rate of 6.7%. The company is expected to announce its next earnings report before the market opens on Thursday, October 31st.
On average, analysts expect that Public Service Enterprise Group will report full year sales of $10.32 billion for the current year, with estimates ranging from $9.36 billion to $11.18 billion. For the next financial year, analysts forecast that the firm will report sales of $10.44 billion, with estimates ranging from $9.23 billion to $11.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Public Service Enterprise Group.
Public Service Enterprise Group (NYSE:PEG) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.04). Public Service Enterprise Group had a net margin of 14.41% and a return on equity of 11.02%. The company had revenue of $2.32 billion for the quarter, compared to analyst estimates of $2.23 billion. During the same quarter in the previous year, the business posted $0.64 earnings per share.
In other news, insider Derek M. Dirisio sold 2,176 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $60.08, for a total transaction of $130,734.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Daniel J. Cregg sold 625 shares of Public Service Enterprise Group stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $57.33, for a total transaction of $35,831.25. The disclosure for this sale can be found here. Insiders have sold a total of 61,408 shares of company stock valued at $3,536,287 over the last three months. Corporate insiders own 0.51% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Berman Capital Advisors LLC lifted its holdings in shares of Public Service Enterprise Group by 79.0% during the 2nd quarter. Berman Capital Advisors LLC now owns 460 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 203 shares in the last quarter. Stonebridge Capital Advisors LLC acquired a new position in Public Service Enterprise Group in the 2nd quarter worth $29,000. Thor Advisors LLC bought a new stake in shares of Public Service Enterprise Group in the 1st quarter worth about $45,000. Executive Wealth Management LLC increased its position in shares of Public Service Enterprise Group by 137.4% in the 2nd quarter. Executive Wealth Management LLC now owns 781 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 452 shares during the last quarter. Finally, San Francisco Sentry Investment Group CA increased its position in shares of Public Service Enterprise Group by 357.4% in the 2nd quarter. San Francisco Sentry Investment Group CA now owns 956 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 747 shares during the last quarter. Institutional investors and hedge funds own 69.44% of the company’s stock.
PEG stock traded down $0.25 during midday trading on Friday, hitting $61.61. The stock had a trading volume of 953,193 shares, compared to its average volume of 1,964,955. The firm has a market cap of $31.23 billion, a PE ratio of 19.75, a price-to-earnings-growth ratio of 6.40 and a beta of 0.30. The company has a debt-to-equity ratio of 0.99, a current ratio of 0.79 and a quick ratio of 0.59. Public Service Enterprise Group has a 12-month low of $49.22 and a 12-month high of $63.88. The company’s 50-day moving average price is $61.32 and its 200 day moving average price is $59.83.
About Public Service Enterprise Group
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
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