Zacks: Brokerages Expect WEC Energy Group Inc (WEC) Will Announce Quarterly Sales of $2.26 Billion

Wall Street analysts expect WEC Energy Group Inc (NYSE:WEC) to post sales of $2.26 billion for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for WEC Energy Group’s earnings, with the lowest sales estimate coming in at $2.19 billion and the highest estimate coming in at $2.32 billion. WEC Energy Group reported sales of $2.30 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 1.7%. The firm is scheduled to issue its next earnings report before the market opens on Tuesday, May 1st.

According to Zacks, analysts expect that WEC Energy Group will report full-year sales of $2.26 billion for the current year, with estimates ranging from $7.35 billion to $7.91 billion. For the next year, analysts forecast that the business will post sales of $7.77 billion per share, with estimates ranging from $7.39 billion to $8.10 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover WEC Energy Group.

How to Become a New Pot Stock Millionaire

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Wednesday, January 31st. The utilities provider reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.03. The firm had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $1.94 billion. WEC Energy Group had a net margin of 15.75% and a return on equity of 10.81%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS.

Several research analysts have weighed in on WEC shares. Guggenheim reissued a “buy” rating and issued a $66.00 price target on shares of WEC Energy Group in a report on Friday, February 23rd. Zacks Investment Research raised shares of WEC Energy Group from a “hold” rating to a “buy” rating and set a $74.00 price target on the stock in a report on Saturday, January 6th. Wells Fargo lowered their price target on shares of WEC Energy Group from $73.00 to $71.00 and set a “market perform” rating on the stock in a report on Thursday, February 1st. UBS began coverage on shares of WEC Energy Group in a report on Friday, February 2nd. They set a “neutral” rating and a $65.00 target price on the stock. Finally, Credit Suisse Group reaffirmed a “neutral” rating and set a $63.00 target price (down from $65.00) on shares of WEC Energy Group in a report on Friday, February 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $66.00.

WEC Energy Group stock traded down $0.40 during trading hours on Monday, hitting $62.64. The company had a trading volume of 2,275,002 shares, compared to its average volume of 1,975,896. The stock has a market cap of $19,891.93, a P/E ratio of 19.95, a P/E/G ratio of 4.52 and a beta of 0.07. The company has a quick ratio of 0.43, a current ratio of 0.57 and a debt-to-equity ratio of 0.92. WEC Energy Group has a one year low of $58.92 and a one year high of $70.09.

In other news, Director Barbara L. Bowles sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $60.19, for a total transaction of $120,380.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.94% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in WEC. Advisory Services Network LLC increased its stake in WEC Energy Group by 157.2% in the fourth quarter. Advisory Services Network LLC now owns 1,690 shares of the utilities provider’s stock valued at $112,000 after acquiring an additional 1,033 shares during the last quarter. Financial Gravity Companies Inc. bought a new position in WEC Energy Group in the fourth quarter valued at approximately $122,000. Hanson & Doremus Investment Management bought a new position in WEC Energy Group in the fourth quarter valued at approximately $133,000. Calton & Associates Inc. bought a new position in WEC Energy Group in the fourth quarter valued at approximately $175,000. Finally, Crewe Advisors LLC bought a new position in WEC Energy Group in the fourth quarter valued at approximately $193,000. 72.96% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: “Zacks: Brokerages Expect WEC Energy Group Inc (WEC) Will Announce Quarterly Sales of $2.26 Billion” was first posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was illegally stolen and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/04/09/zacks-brokerages-expect-wec-energy-group-inc-wec-will-announce-quarterly-sales-of-2-26-billion.html.

WEC Energy Group Company Profile

WEC Energy Group, Inc was a diversified holding company with natural gas and electric utility operations, an approximately 60% equity ownership interest in American Transmission Company LLC, and non-utility electric operations through its We Power business, as of December 31, 2016. Its segments include Wisconsin; Illinois; Other States; Electric Transmission; We Power, and Corporate and Other.

Get a free copy of the Zacks research report on WEC Energy Group (WEC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for WEC Energy Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for WEC Energy Group and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply