ALLETE, Inc. (NYSE:ALE) is scheduled to release fourth-quarter 2019 earnings on Feb 13, 2020, before market open. The company has a trailing four-quarter negative earnings surprise of 3.13%, on average.
Factors to Consider
ALLETE is focused toward clean energy generation and is undertaking initiatives for the same. The completed wind project — the Glen Ullin Energy Center — is likely to have made a positive impact on the company’s fourth-quarter performance.
Q4 Expectations
The Zacks Consensus Estimate for fourth-quarter earnings per share is pegged at 92 cents, which indicates a decline of 22.03% from the year-ago quarter’s figure. The Zacks Consensus Estimate for fourth-quarter 2019 sales is pegged at $415.39 million, which suggests a decline of 7.34% from the year-ago quarter’s figure.
What Our Quantitative Model Predicts
Our proven model doesn’t conclusively predict an earnings beat for ALLETE this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here as you will see below. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, ALLETE carries a Zacks Rank #4.
Stocks to Consider
Investors can consider the following players from the same industry that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Duke Energy Corporation (NYSE:DUK) is slated to release fourth-quarter 2019 results on Feb 13. It has an Earnings ESP of +0.38% and a Zacks Rank #3.
Ameren Corporation (NYSE:AEE) is set to release fourth-quarter 2019 numbers on Feb 26. It has an Earnings ESP of +2.73% and carries a Zacks Rank #3.
CenterPoint Energy, Inc. (NYSE:CNP) is scheduled to release fourth-quarter 2019 results on Feb 27. It has an Earnings ESP of +1.09% and a Zacks Rank #3.
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Duke Energy Corporation (DUK): Free Stock Analysis Report
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Allete, Inc. (ALE): Free Stock Analysis Report
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