Public Service Enterprise Group Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Public Service Enterprise Group Inc. (NYSE:PEG) will unveil its latest earnings on Wednesday, August 3, 2011. Public Service Enterprise Group Inc. primarily operates as a wholesale energy supply company with nuclear, coal, gas, and oil-fired generation facilities.

Public Service Enterprise Group Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net income of 55 cents per share, a decline of 15.4% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from 53 cents. Between one and three months ago, the average estimate moved down, but has risen from 52 cents during the last month. For the year, analysts are projecting profit of $2.64 per share, a decline of 15.4% from last year.

Past Earnings Performance: The company topped estimates last quarter after missing forecasts the quarter prior. In the first quarter, it reported net income of 85 cents per share against a mean estimate of profit of 76 cents per share. In the fourth quarter of the last fiscal year, it missed forecasts by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $2.4 billion in revenue this quarter, a decline of 2.4% from the year ago quarter. Analysts are forecasting total revenue of $12.33 billion for the year, a rise of 4.6% from last year’s revenue of $11.79 billion.

Analyst Ratings: Analysts are bullish on this stock with nine analysts rating it as a buy, none rating it as a sell and five rating it as a hold.

Key Stats:

The increase in profit in the first quarter comes after net income fell in the previous quarter. In the first quarter, net income rose 7.1% to $526 million. In the fourth quarter of the last fiscal year, net income fell 19.2%.

Revenue has fallen in the past two quarters. In first quarter, revenue declined 8.9% to $3.35 billion from the year earlier quarter. In the fourth quarter of the last fiscal year, the figure fell 16.6%.

Competitors to Watch: FirstEnergy Corp. (NYSE:FE), Exelon Corporation (NYSE:EXC), Pepco Holdings, Inc. (NYSE:POM), Consolidated Edison, Inc. (NYSE:ED), The Southern Company (NYSE:SO), Xcel Energy Inc. (NYSE:XEL), Genon Energy Inc (NYSE:GEN), Constellation Energy Group, Inc. (NYSE:CEG), CH Energy Group, Inc. (NYSE:CHG), and PPL Corporation (NYSE:PPL).

Stock Price Performance: During May 3, 2011 to July 28, 2011, the stock price had risen $1.21 (3.8%) from $31.88 to $33.09. The stock price saw one of its best stretches over the last year between April 25, 2011 and May 4, 2011 when shares rose for eight-straight days, rising 5% (+$1.52) over that span. It saw one of its worst periods between February 9, 2011 and February 18, 2011 when shares fell for eight-straight days, falling 3.9% (-$1.25) over that span. Shares are up $1.96 (+6.3%) year to date.

(Source: Xignite Financials)

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