American Electric Power (AEP) Misses Q4 Earnings Estimates
American Electric Power Co., Inc. AEP is one of the largest integrated utilities in the U.S. with a market cap of $28.56 billion.
Although the company aims to gradually reduce its dependence on coal, it will remain mostly a coal-fired power generator for many years to come.
American Electric Power has a stable earnings base of more than 5.4 million customers spread over 11 states.
Estimate Trend & Surprise History
Investors should note that Zacks Consensus Estimate for the fourth quarter for earnings expectation of 50 cents per share has decreased by 1 cent over the last 30 days.
Coming to the earnings surprise, American Electric Power has surpassed the Zacks Consensus Estimate in three out of last four quarters, resulting in a positive average surprise of 5.57%.
Zacks Rank: Currently, American Electric Power has a Zacks Rank #3 (Hold). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. We have mentioned below some of the vital information from this just-revealed announcement:
Earnings: American Electric Power missed on earnings. Our consensus called for EPS of 50 cents, and the company reported EPS of 48 cents.
The company reported revenue of $3,694 million in the quarter.
Key Stats: American Electric Power reiterated its 2016 operating earnings guidance range of $3.60 to $3.80 per share.
Check back later for our full write up on this American Electric Power earnings report later!
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
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
AMER ELEC PWR (AEP): Free Stock Analysis Report
To read this article on Zacks.com click here.
