Eversource Energy (NYSE:ES) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Eversource Energy (NYSE:ES) released its quarterly earnings data on Tuesday. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.02, RTT News reports. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.26 billion. Eversource Energy had a net margin of 10.46% and a return on equity of 9.36%. Eversource Energy’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.91 earnings per share. Eversource Energy updated its FY19 guidance to $3.40-3.50 EPS.

Shares of NYSE:ES traded down $0.46 during trading hours on Friday, hitting $78.93. The stock had a trading volume of 518,583 shares, compared to its average volume of 1,491,679. The stock’s fifty day simple moving average is $84.44 and its 200 day simple moving average is $78.44. Eversource Energy has a 1-year low of $62.61 and a 1-year high of $86.55. The firm has a market capitalization of $26.24 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 4.19 and a beta of 0.17. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.56 and a current ratio of 0.61.

Several equities research analysts have commented on ES shares. Wells Fargo & Co raised their price target on shares of Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. UBS Group lowered shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $91.00 price target on the stock. in a research note on Tuesday, October 29th. Bank of America set a $78.00 price target on shares of Eversource Energy and gave the company a “sell” rating in a research note on Monday, July 15th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $76.00 to $88.00 in a research note on Wednesday, September 4th. Finally, ValuEngine lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $81.45.

In other Eversource Energy news, CFO Philip J. Lembo sold 1,256 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $79.61, for a total value of $99,990.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is currently owned by company 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 for Eversource Energy (NYSE:ES)

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