Public Service Enterprise Group (NYSE:PEG – Get Free Report) is set to announce its earnings results before the market opens on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.76 per share for the quarter. Public Service Enterprise Group has set its FY24 guidance at $3.60-3.70 EPS and its FY 2024 guidance at 3.600-3.700 EPS.Parties interested in listening to the company’s conference call can do so using this link.
Public Service Enterprise Group (NYSE:PEG – Get Free Report) last released its quarterly earnings results on Tuesday, April 30th. The utilities provider reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The business had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.99 billion. Public Service Enterprise Group had a net margin of 17.65% and a return on equity of 11.10%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.39 earnings per share. On average, analysts expect Public Service Enterprise Group to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Public Service Enterprise Group Price Performance
Public Service Enterprise Group stock opened at $76.01 on Monday. The business’s fifty day moving average is $74.31 and its two-hundred day moving average is $67.70. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.62 and a current ratio of 0.79. The firm has a market cap of $37.86 billion, a P/E ratio of 21.06, a P/E/G ratio of 3.00 and a beta of 0.59. Public Service Enterprise Group has a 52 week low of $53.71 and a 52 week high of $77.46.
Public Service Enterprise Group Dividend Announcement
Insider Transactions at Public Service Enterprise Group
In related news, CEO Ralph A. Larossa sold 1,374 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $69.55, for a total value of $95,561.70. Following the sale, the chief executive officer now directly owns 150,973 shares in the company, valued at approximately $10,500,172.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.57% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on PEG. Bank of America upped their target price on shares of Public Service Enterprise Group from $73.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Royal Bank of Canada upped their price objective on Public Service Enterprise Group from $80.00 to $84.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Mizuho lifted their target price on Public Service Enterprise Group from $65.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. Morgan Stanley cut their price target on Public Service Enterprise Group from $78.00 to $76.00 and set an “overweight” rating on the stock in a research note on Monday, June 24th. Finally, Evercore ISI lifted their price objective on Public Service Enterprise Group from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $74.17.
Check Out Our Latest Stock Report on PEG
Public Service Enterprise Group Company Profile
Public Service Enterprise Group Incorporated, through its subsidiaries, operates in electric and gas utility business in the United States. It operates through PSE&G and PSEG Power segments. The PSE&G segment transmits electricity; distributes electricity and natural gas to residential, commercial, and industrial customers; and appliance services and repairs to customers through its service territory, as well as invests in solar generation projects, and energy efficiency and related programs.
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