Northeast Utilities (NU) Posts Quarterly Earnings Results, Misses Estimates By $0.04 EPS
Northeast Utilities (NYSE:NU) announced its earnings results on Friday. The company reported $0.69 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.73 by $0.04, AmericanBankingNews.com reports. The company had revenue of $1.89 billion for the quarter, compared to the consensus estimate of $1.90 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 1.6% on a year-over-year basis.
A number of analysts have recently weighed in on NU shares. Analysts at Credit Suisse initiated coverage on shares of Northeast Utilities in a research note to investors on Tuesday. They set an “outperform” rating and a $47.00 price target on the stock. On a related note, analysts at Morgan Stanley initiated coverage on shares of Northeast Utilities in a research note to investors on Monday, October 7th. They set an “equal weight” rating and a $43.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Northeast Utilities in a research note to investors on Monday, September 30th. They now have a $44.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. Northeast Utilities currently has an average rating of “Hold” and a consensus target price of $46.29.
Shares of Northeast Utilities (NYSE:NU) opened at 42.89 on Friday. Northeast Utilities has a 1-year low of $36.68 and a 1-year high of $45.66. The stock’s 50-day moving average is $41.73 and its 200-day moving average is $42.58. The company has a market cap of $13.500 billion and a price-to-earnings ratio of 17.48.
Northeast Utilities (NYSE:NU) is a public utility holding company.
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