Northeast Utilities (NU) Posts Quarterly Earnings, Misses Estimates By $0.03 EPS
Northeast Utilities (NYSE:NU) posted its quarterly earnings results on Thursday. The company reported $0.56 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.59 by $0.03, AmericanBankingNews.com reports. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.65 million. Northeast Utilities’s revenue was up 5.6% compared to the same quarter last year. Northeast Utilities updated its FY14 guidance to $2.60-2.75 EPS.
NU has been the subject of a number of recent research reports. Analysts at Deutsche Bank reiterated a “hold” rating on shares of Northeast Utilities in a research note to investors on Monday. They now have a $43.50 price target on the stock, down previously from $44.00. On the ratings front, analysts at Barclays cut their price target on shares of Northeast Utilities from $48.00 to $44.00 in a research note to investors on Monday, January 6th. They now have an “overweight” rating on the stock. Finally, analysts at Ned Davis Research downgraded shares of Northeast Utilities from a “neutral” rating to a “sell” rating in a research note to investors on Monday, December 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.96.
The company also recently declared a quarterly dividend, which is scheduled for Monday, March 31st. Investors of record on Monday, March 3rd will be given a dividend of 0.3925 per share. This represents a $1.57 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Thursday, February 27th. This is an increase from Northeast Utilities’s previous quarterly dividend of $0.37.
Northeast Utilities (NYSE:NU) is a public utility holding company.
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