Yahoo Finance What's in the Offing for Evergy (EVRG) This Earnings Season?
Evergy, Inc. EVRG is scheduled to release first-quarter 2019 results on May 8, after market close. In the last reported quarter, the company came up with a negative earnings surprise of 66.67%.
Let’s see how things are shaping up prior to this announcement.
Factors to Consider
Evergy is expected to gain from strong economic conditions in its service territories. The unemployment rate in its service territories is lower than the industry average. The company experienced consistent customer growth in the last reported quarter and the trend is expected to continue in the to-be-reported quarter as well, thereby positively impacting demand and earnings.
Cost savings owing to mergers and other initiatives undertaken by the company will have a positive impact on margins in the first quarter. Share repurchases will also have a positive impact on earnings.
The Zacks Consensus Estimate for first-quarter revenues is pegged at $1,327 million, indicating 121.7% growth from the year-ago reported figure.
Evergy Inc. Price and EPS Surprise
Evergy Inc. Price and EPS Surprise | Evergy Inc. Quote
What Our Quantitative Model Indicates
A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. However, Evergy does not have the required combination, as elaborated below.
Earnings ESP: The company has an Earnings ESP of -0.20%.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently holds a Zacks Rank #3, which increases the predictive power of ESP. However, the company’s favorable Zacks Rank, when combined with a negative ESP, is not indicative of an earnings beat this reporting cycle.
Conversely, the Sell-rated stocks (#4 or 5) should never be considered going into an earnings announcement, especially when the company is seeing negative estimate revisions.
Stocks to Consider
Here are some players worth considering from the Zacks Utility sector, which have the right combination of elements to deliver an earnings beat in the upcoming releases.
PNM Resources PNM is expected to release first-quarter 2019 results on May 7. It has an Earnings ESP of +3.45% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
TerraForm Power, Inc. TERP is anticipated to release first-quarter 2019 results on May 7. It has an Earnings ESP of +100.00% and a Zacks Rank #2.
Pattern Energy Group Inc. PEGI is anticipated to release first-quarter 2019 results on May 10. It has an Earnings ESP of +115.20% and a Zacks Rank #3.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2018, while the S&P 500 gained +15.8%, five of our screens returned +38.0%, +61.3%, +61.6%, +68.1%, and +98.3%.
This outperformance has not just been a recent phenomenon. From 2000 – 2018, while the S&P averaged +4.8% per year, our top strategies averaged up to +56.2% per year.
See their latest picks free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
PNM Resources, Inc. (Holding Co.) (PNM) : Free Stock Analysis Report
TerraForm Power, Inc. (TERP) : Free Stock Analysis Report
Pattern Energy Group Inc. (PEGI) : Free Stock Analysis Report
Evergy Inc. (EVRG) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
