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

Public Service Enterprise

30/04/2024 16:33

* Public Service Enterprise Group Inc  PEG.N  reported
quarterly
adjusted earnings of $1.31​​ per share for the quarter ended in
March, lower than the same quarter last year, when the company
reported EPS of $1.39.  The mean expectation of sixteen analysts
for the quarter was for earnings of $1.31 per share. Wall Street
expected results to range from $1.23  to $1.44 per share.
    * Revenue fell 26.5% to $2.76 billion from a year ago;
analysts
expected $3.06 billion. 
    * Public Service Enterprise Group Inc's reported EPS for the
quarter was $1.06​.
    * The company reported quarterly net income of $532 million.
    * Public Service Enterprise Group Inc shares had risen
by 2.8%
this quarter and gained 12.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 5.9%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 9 "strong buy" or "buy," 12
"hold" and no "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 $68.00 
This summary was machine generated from LSEG data April 30 at
03:33 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
 Mar. 31 2024      1.31           1.31           Met
 Dec. 31 2023      0.52           0.54           Beat
 Sep. 30 2023      0.75           0.85           Beat
 Jun. 30 2023      0.63           0.70           Beat