Brokerages Expect NorthWestern Corporation (NWE) Will Post Earnings of $0.75 Per Share
Brokerages forecast that NorthWestern Corporation (NYSE:NWE) will announce $0.75 earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for NorthWestern Corporation’s earnings. NorthWestern Corporation reported earnings per share of $0.68 in the same quarter last year, which would suggest a positive year over year growth rate of 10.3%. The company is scheduled to announce its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that NorthWestern Corporation will report full year earnings of $3.40 per share for the current year, with EPS estimates ranging from $3.40 to $3.41. For the next year, analysts forecast that the company will report earnings of $3.44 per share, with EPS estimates ranging from $3.40 to $3.50. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow NorthWestern Corporation.
NorthWestern Corporation (NYSE:NWE) last posted its earnings results on Tuesday, July 25th. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.15). NorthWestern Corporation had a net margin of 13.17% and a return on equity of 9.31%. The company had revenue of $283.86 million during the quarter, compared to analysts’ expectations of $302.42 million. During the same period in the previous year, the company posted $0.65 EPS. NorthWestern Corporation’s quarterly revenue was down 3.2% compared to the same quarter last year.
NWE has been the subject of several analyst reports. Zacks Investment Research downgraded NorthWestern Corporation from a “buy” rating to a “hold” rating in a report on Saturday, May 20th. BidaskClub upgraded NorthWestern Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Finally, Williams Capital boosted their price target on NorthWestern Corporation from $61.00 to $64.00 and gave the company a “hold” rating in a report on Wednesday, July 5th. Three research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock currently has an average rating of “Sell” and a consensus target price of $60.00.
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In other NorthWestern Corporation news, CEO Robert C. Rowe sold 3,626 shares of the business’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $60.43, for a total value of $219,119.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.33% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NWE. Bank of Montreal Can increased its holdings in shares of NorthWestern Corporation by 11.4% during the 1st quarter. Bank of Montreal Can now owns 22,899 shares of the utilities provider’s stock worth $1,345,000 after buying an additional 2,338 shares during the last quarter. Capstone Asset Management Co. increased its holdings in shares of NorthWestern Corporation by 8.2% during the 1st quarter. Capstone Asset Management Co. now owns 3,830 shares of the utilities provider’s stock worth $225,000 after buying an additional 290 shares during the last quarter. Strs Ohio increased its holdings in shares of NorthWestern Corporation by 6.5% during the 1st quarter. Strs Ohio now owns 4,900 shares of the utilities provider’s stock worth $287,000 after buying an additional 300 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of NorthWestern Corporation by 12.6% during the 1st quarter. Russell Investments Group Ltd. now owns 85,329 shares of the utilities provider’s stock worth $5,008,000 after buying an additional 9,569 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of NorthWestern Corporation by 1.2% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 16,885 shares of the utilities provider’s stock worth $991,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 98.40% of the company’s stock.
Shares of NorthWestern Corporation (NWE) opened at 58.96 on Friday. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 17.09 and a beta of 0.36. NorthWestern Corporation has a 1-year low of $53.85 and a 1-year high of $63.86. The company has a 50-day moving average price of $59.96 and a 200-day moving average price of $60.12.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.525 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.10 annualized dividend and a yield of 3.56%. NorthWestern Corporation’s dividend payout ratio (DPR) is presently 60.34%.
About NorthWestern Corporation
NorthWestern Corporation, doing business as North-Western Energy, provides electricity and natural gas. The Company’s segments are Electric operations, Natural gas operations and All other. As of December 31, 2016, the Company provided electricity and natural gas to approximately 709,600 customers in Montana, South Dakota and Nebraska.
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