Credit Suisse updated their earnings forecasts for stocks in the electric power and utilities space. The updated earnings positions incorporate the most recent data on U.S. power demand, nuclear outages and company guidance. Credit Suisse is predicting below-consensus earnings per share for the following five companies.
Dominion Resources, Inc. D 2.84%
Shares of Dominion are up 1.3 percent in 2015, but Credit Suisse sees an earnings miss coming this week for the company. They recently lowered their EPS forecast from $0.86 to $0.81, below consensus expectations of $0.83.
Consolidated Edison, Inc. ED 2.97%
The stock has been on fire so far this year, trading up more than 7 percent to multi-year highs. Credit Suisse predicts that shareholders may be in for a rude awakening when Consolidated Edison releases earnings. They forecast EPS of $0.54, about 2 percent below consensus.
American Electric Power Company Inc AEP 1.43%
Credit Suisse’s prediction of an earnings miss came true for the likes of American Electric Power company. The company reported Thursday an EPS of only $0.39, missing consensus estimates and even Credit Suisse’s below-consensus prediction of $0.49.
Northeast Utilities System NU 1.45%
Shareholders of Northeast Utilities hope to avoid an earnings fate similar to that of American Electric Power. However, Credit Suisse isn’t hopeful; they predict an EPS of $0.67, more than 3 percent below consensus estimates of $0.69.
Pinnacle West Capital Corporation PNW 1.76%
Credit Suisse’s boldest earnings miss prediction falls on Pinnacle West. Credit Suisse analysts see earnings of only $0.14 per share, a 26.2 percent miss versus consensus estimates.
Investors that own these stocks will be patiently waiting for official news over the next several weeks.
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