Public Service Enterprise Group Inc reports results for the quarter ended in June - Earnings Summary

Public Service Enterprise

30/07/2024 14:33

* Public Service Enterprise Group Inc  PEG.N  reported
quarterly
adjusted earnings of 63 cents​​ per share for the quarter ended
in June, lower than the same quarter last year, when the company
reported EPS of 70 cents.  The mean expectation of
seventeen analysts for the quarter was for earnings of 63 cents
per share. Wall Street expected results to range from 54 cents
to 76 cents per share.
    * Revenue rose 0.1% to $2.42 billion from a year ago;
analysts
expected $2.05 billion. 
    * Public Service Enterprise Group Inc's reported EPS for the
quarter was 87 cents​.
    * The company reported quarterly net income of $434 million.
    * Public Service Enterprise Group Inc shares had risen
by 4.4%
this quarter and gained 25.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 16.9%
in the last three months.​ 
    * In the last 30 days, ten analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 10 "strong buy" or "buy," 10
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the multiline
utilities
peer group is also "buy"

Wall Street's median 12-month price target for Public Service
Enterprise Group Inc is $78.00 
This summary was machine generated from LSEG data July 30 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.63           0.63           Met
 Mar. 31 2024      1.31           1.31           Met
 Dec. 31 2023                     0.54           
 Sep. 30 2023      0.75           0.85           Beat