WEC Energy (WEC) Likely To Beat Estimates In Q3 Earnings
Zacks Investment Research | Oct 19, 2016 09:50PM ET
We expect WEC Energy Group. (NYSE:WEC) to beat expectations when it reports third-quarter 2016 results before the market opens on Oct 26. Last quarter, this electric and natural gas utility reported a positive earnings surprise of 3.64%. The average positive surprise in the last four quarter was 3.47%.
Why a Likely Positive Surprise?
Our proven model shows that WEC Energy is likely to beat estimates because it has the right combination of two key ingredients. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), #2 (Buy) or #3 (Hold) to be able to beat estimates and WEC Energy has the right mix.
Zacks ESP: The Earnings ESP, which represents the difference between the Most Accurate estimate of 62 cents and the Zacks Consensus Estimate of 59 cents, stands at +5.09%. This is a meaningful and leading indicator of a likely positive surprise.
Zacks Rank: WEC Energy currently carries a Zacks Rank #2. The combination of WEC Energy’s favorable Zacks Rank and positive ESP makes us reasonably confident of a positive surprise this season.
Conversely, we caution against Sell-rated stocks (#4 or #5) going into the earnings announcement, especially when the company is seeing negative estimate revisions.
WEC ENERGY GRP Price and EPS Surprise
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