Eversource Energy (NYSE:ES) Updates FY 2019 Earnings Guidance

Eversource Energy (NYSE:ES) updated its FY 2019 earnings guidance on Wednesday. The company provided earnings per share guidance of $3.40-3.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.46.

Shares of NYSE ES traded down $0.67 during midday trading on Wednesday, reaching $75.86. The company’s stock had a trading volume of 1,868,293 shares, compared to its average volume of 1,702,881. Eversource Energy has a 12-month low of $59.30 and a 12-month high of $78.53. The firm has a 50 day moving average price of $76.81. The firm has a market cap of $24.19 billion, a PE ratio of 23.13, a P/E/G ratio of 3.95 and a beta of 0.26. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.50 and a quick ratio of 0.44.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The business had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. Eversource Energy had a return on equity of 9.43% and a net margin of 12.50%. Eversource Energy’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. On average, equities analysts anticipate that Eversource Energy will post 3.44 EPS for the current fiscal year.

A number of research analysts recently commented on the company. Wells Fargo & Co increased their target price on Eversource Energy from $86.00 to $88.00 and gave the company an outperform rating in a research note on Tuesday. UBS Group upped their price target on shares of Eversource Energy from $81.00 to $85.00 and gave the company a buy rating in a research report on Friday, June 7th. Morgan Stanley upped their price target on shares of Eversource Energy from $74.00 to $78.00 and gave the company an equal weight rating in a research report on Friday, June 14th. Barclays upped their price target on shares of Eversource Energy from $71.00 to $79.00 and gave the company an equal weight rating in a research report on Tuesday, June 18th. Finally, Zacks Investment Research upgraded shares of Eversource Energy from a sell rating to a hold rating and set a $82.00 price target for the company in a research report on Monday, June 17th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. Eversource Energy has an average rating of Hold and a consensus target price of $76.42.

In other Eversource Energy news, EVP Leon J. Olivier sold 7,000 shares of Eversource Energy stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.37% of the stock is currently owned by insiders.

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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