Eversource Energy (ES) Releases FY17 Earnings Guidance
Eversource Energy (NYSE:ES) updated its FY17 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.05-3.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.14.
Several research firms recently commented on ES. Bank of America Corporation began coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They set an underperform rating and a $62.00 price objective for the company. BidaskClub upgraded shares of Eversource Energy from a sell rating to a hold rating in a research note on Friday, August 18th. Morgan Stanley boosted their price objective on shares of Eversource Energy from $64.00 to $66.00 and gave the stock an equal weight rating in a research note on Thursday, August 10th. Deutsche Bank AG lowered shares of Eversource Energy from a buy rating to a hold rating and boosted their price objective for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. Finally, Zacks Investment Research lowered shares of Eversource Energy from a hold rating to a sell rating in a research note on Wednesday, October 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and an average target price of $64.06.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm earned $0.83 EPS. The firm’s revenue was down 2.5% compared to the same quarter last year.
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About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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