Public Service (NYSE:PEG) will be announcing its earnings results before the market opens on Monday, April 30th. Analysts expect the company to announce earnings of $0.92 per share for the quarter. Public Service has set its FY18 guidance at $3.00-3.20 EPS.
Public Service (NYSE:PEG) last issued its quarterly earnings data on Friday, February 23rd. The utilities provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Public Service had a return on equity of 11.25% and a net margin of 17.33%. The company had revenue of $2.10 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. On average, analysts expect Public Service to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NYSE PEG opened at $49.51 on Monday. Public Service has a 12 month low of $41.67 and a 12 month high of $53.28. The company has a quick ratio of 0.59, a current ratio of 0.79 and a debt-to-equity ratio of 0.87. The stock has a market cap of $24,990.90, a PE ratio of 16.90, a price-to-earnings-growth ratio of 3.63 and a beta of 0.39.
Several brokerages have issued reports on PEG. JPMorgan Chase upped their target price on Public Service from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 10th. UBS began coverage on Public Service in a research note on Friday, February 2nd. They issued a “neutral” rating and a $52.00 target price for the company. Bank of America raised Public Service from a “neutral” rating to a “buy” rating in a research note on Monday, April 16th. Morgan Stanley upped their target price on Public Service from $53.00 to $54.00 and gave the stock an “overweight” rating in a research note on Thursday, March 8th. Finally, Mizuho reaffirmed a “hold” rating and issued a $47.00 target price on shares of Public Service in a research note on Friday, March 2nd. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $51.61.
In other news, EVP Tamara Louise Linde sold 16,400 shares of the stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $50.36, for a total transaction of $825,904.00. Following the completion of the sale, the executive vice president now owns 51,604 shares of the company’s stock, valued at $2,598,777.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Chairman Ralph Izzo sold 20,833 shares of the stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $48.36, for a total value of $1,007,483.88. Following the sale, the chairman now directly owns 652,180 shares of the company’s stock, valued at approximately $31,539,424.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,899 shares of company stock valued at $3,935,438. Insiders own 0.58% of the company’s stock.
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About Public Service
Public Service Enterprise Group Incorporated, through its subsidiaries, operates as an energy company primarily in the Northeastern and Mid- Atlantic United States. It operates through two segments, PSE&G and Power. The PSE&G segment transmits electricity; and distributes electricity and gas to residential, commercial, and industrial customers, as well as invests in solar generation projects, and energy efficiency and related programs; and offers appliance services and repairs to customers.
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