Eversource Energy (ES) Announces Quarterly Earnings Results

Eversource Energy (NYSE:ES) released its quarterly earnings data on Wednesday. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02), Briefing.com reports. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $2.06 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.83 earnings per share. Eversource Energy updated its FY17 guidance to $3.05-3.20 EPS.

Several research analysts have commented on the company. BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Bank of America Corporation assumed coverage on Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 price objective on the stock. Morgan Stanley raised their price objective on Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Finally, Williams Capital raised their price objective on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $64.06.

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About Eversource Energy

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

Earnings History for Eversource Energy (NYSE:ES)

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