Wall Street analysts forecast that WEC Energy Group (WEC) will report quarterly earnings of $0.64 per share in its upcoming release, pointing to a year-over-year decline of 30.4%. It is anticipated that revenues will amount to $1.86 billion, exhibiting an increase of 1.7% compared to the year-ago quarter.
The current level reflects no revision in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While it's common for investors to rely on consensus earnings and revenue estimates for assessing how the business may have performed during the quarter, exploring analysts' forecasts for key metrics can yield valuable insights.
Bearing this in mind, let's now explore the average estimates of specific WEC Energy metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Operating Revenues- Regulated Utility Operations-Wisconsin' will likely reach $1.49 billion. The estimate points to a change of +4.6% from the year-ago quarter.
Analysts expect 'Operating Revenues- Regulated Utility Operations-Illinois' to come in at $261.78 million. The estimate points to a change of -4.3% from the year-ago quarter.
The consensus estimate for 'Operating Revenues- Non-Utility Energy Infrastructure' stands at $171.53 million. The estimate suggests a change of +1.5% year over year.
The collective assessment of analysts points to an estimated 'Operating Revenues- Regulated Utility Operations-Other States' of $81.80 million. The estimate suggests a change of -0.1% year over year.
It is projected by analysts that the 'Electric Sales Volumes -Total retail' will reach 8,655.80 GWh. The estimate is in contrast to the year-ago figure of 8,620.8 GWh.
View all Key Company Metrics for WEC Energy here>>>
Shares of WEC Energy have demonstrated returns of +8.3% over the past month compared to the Zacks S&P 500 composite's +0.1% change. With a Zacks Rank #4 (Sell), WEC is expected to lag the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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