Analysts on Wall Street project that Xcel Energy (XEL) will announce quarterly earnings of $0.87 per share in its forthcoming report, representing an increase of 4.8% year over year. Revenues are projected to reach $3.72 billion, increasing 8% from the same quarter last year.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Given this perspective, it's time to examine the average forecasts of specific Xcel metrics that are routinely monitored and predicted by Wall Street analysts.
The combined assessment of analysts suggests that 'Operating revenues- Electric and natural gas' will likely reach $3.72 billion. The estimate indicates a change of +9.1% from the prior-year quarter.
According to the collective judgment of analysts, 'Operating revenues- Other' should come in at -$30.78 million. The estimate indicates a change of -209.9% from the prior-year quarter.
The consensus among analysts is that 'Operating revenues- Natural Gas' will reach $763.09 million. The estimate points to a change of +6.1% from the year-ago quarter.
The average prediction of analysts places 'Operating revenues- Electric' at $3.00 billion. The estimate indicates a change of +11.4% from the prior-year quarter.
View all Key Company Metrics for Xcel here>>>
Shares of Xcel have experienced a change of +0.8% in the past month compared to the +2.7% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), XEL is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Only $1 to See All Zacks' Buys and Sells
We're not kidding.
Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.
Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.
Xcel Energy Inc. (XEL) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
