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Just Energy (JE) To Report Q3 Earnings: What's In Store?

ByZacks Investment Research
Published 02/05/2020, 07:47 AM
Updated 07/09/2023, 06:31 AM

Just Energy Group Inc. (TSX:JE) is set to report third-quarter fiscal 2020 results on Feb 10, before the market opens. This diversified utility delivered a positive earnings surprise of 400% in the last reported quarter.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors at Play

During the fiscal third quarter, Just Energy completed the previously announced sale of Hudson Energy Supply UK Limited (“Hudson UK”) to Shell (LON:RDSa) Energy Retail Limited. This deal helped Just Energy to emphasize on its efforts to streamline the company and focus more on high-margin North American operations. This deal is likely to have positively impacted its performance. The company completed the sale of assets in Georgia and Irish business toward the end of the quarter.

Just Energy’s earnings in to-be-reported quarter are likely to have benefited from cost-saving initiatives undertaken by the company.

The Zacks Consensus Estimate for third-quarter fiscal 2020 is currently pegged at a loss of 1 cent, while the same for revenues is $564.4 million.

What Our Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for Just Energy this time around. A stock needs to have both a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to surpass estimates. 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.

Just Energy Group, Inc. Price and EPS Surprise

Just Energy Group, Inc. price-eps-surprise | Just Energy Group, Inc. Quote

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: Just Energy currently carries a Zacks Rank #2.

Stocks to Consider

Investors can consider the following players from the same sector that have the right combination of elements to post an earnings beat in the to-be-reported quarter.

Ameren Corporation (NYSE:AEE) is slated to release fourth-quarter 2019 results on Feb 26. It has an Earnings ESP of +2.73% and 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.

The AES Corporation (NYSE:AES) is slated to release fourth-quarter 2019 results on Feb 28. It has an Earnings ESP of +0.76% and a Zacks Rank #3.

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Ameren Corporation (AEE): Free Stock Analysis Report

CenterPoint Energy, Inc. (CNP): Free Stock Analysis Report

The AES Corporation (AES): Free Stock Analysis Report

Just Energy Group, Inc. (JE): Free Stock Analysis Report

Original post

Zacks Investment Research

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