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Should You Buy Public Service Enterprise (PEG) Ahead of Earnings?

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Zacks Equity Research
·2 min read
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Investors are always looking for stocks that are poised to beat at earnings season and Public Service Enterprise Group Incorporated PEG may be one such company. The firm has earnings coming up pretty soon, and events are shaping up quite nicely for their report.

That is because Public Service Enterprise is seeing favorable earnings estimate revision activity as of late, which is generally a precursor to an earnings beat. After all, analysts raising estimates right before earnings — with the most up-to-date information possible — is a pretty good indicator of some favorable trends underneath the surface for PEG in this report.

In fact, the Most Accurate Estimate for the current quarter is currently at 63 cents per share for PEG, compared to a broader Zacks Consensus Estimate of 62 cents per share. This suggests that analysts have very recently bumped up their estimates for PEG, giving the stock a Zacks Earnings ESP of +1.21% heading into earnings season.

Public Service Enterprise Group Incorporated Price and EPS Surprise

Public Service Enterprise Group Incorporated Price and EPS Surprise
Public Service Enterprise Group Incorporated Price and EPS Surprise

Public Service Enterprise Group Incorporated price-eps-surprise | Public Service Enterprise Group Incorporated Quote

Why is this Important?

A positive reading for the Zacks Earnings ESP has proven to be very powerful in producing both positive surprises, and outperforming the market. Our recent 10-year backtest shows that stocks that have a positive Earnings ESP and a Zacks Rank #3 (Hold) or better show a positive surprise nearly 70% of the time, and have returned over 28% on average in annual returns (see more Top Earnings ESP stocks here).

Given that PEG has a Zacks Rank #3 and an ESP in positive territory, investors might want to consider this stock ahead of earnings. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Clearly, recent earnings estimate revisions suggest that good things are ahead for Public Service Enterprise, and that a beat might be in the cards for the upcoming report.

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