S&P 500 (NYSE:SPY) component DTE Energy (NYSE:DTE) will unveil its latest earnings on Friday, July 27, 2012. DTE Energy provides electricity and natural gas sales, distribution, and storage services throughout southeastern Michigan.
DTE Energy Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for net income of 56 cents per share, a decline of 13.8% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved up from 48 cents. Between one and three months ago, the average estimate moved up. It has risen from 49 cents during the last month. For the year, analysts are projecting profit of $3.77 per share, a rise of 1.1% from last year.
Past Earnings Performance: Last quarter, the company missed estimates by 25 cents, coming in at net income of 91 cents per share versus a mean estimate of profit of $1.16 per share. In the fourth quarter of the last fiscal year, the company beat estimates by 9 cents.
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A Look Back: In the first quarter, profit fell 11.4% to $156 million (91 cents a share) from $176 million ($1.04 a share) the year earlier, missing analyst expectations. Revenue fell 7.5% to $2.25 billion from $2.43 billion.
Stock Price Performance: Between May 24, 2012 and July 23, 2012, the stock price had risen $3.72 (6.6%), from $56.45 to $60.17. The stock price saw one of its best stretches over the last year between July 9, 2012 and July 18, 2012, when shares rose for eight straight days, increasing 3.2% (+$1.89) over that span. It saw one of its worst periods between June 15, 2012 and June 25, 2012 when shares fell for seven straight days, dropping 3.2% (-$1.94) over that span.
Analyst Ratings: There are mostly holds on the stock with six of nine analysts surveyed giving that rating.
The company is trying to use this earnings announcement to rebound from income declines in the past two quarters. Net income dropped 1.3% in the fourth quarter of the last fiscal year and then again in the first quarter.
Wall St. Revenue Expectations: Analysts predict a decline of 1.5% in revenue from the year-earlier quarter to $2 billion.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.17 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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