PNM Resources, Inc. (NYSE:PNM) is scheduled to release third-quarter 2019 earnings on Nov 1, before the opening bell.
Notably, the company delivered an average positive earnings surprise of 9.93% in the last four quarters.
What Our Quantitative Model Predicts
Our proven model predicts an earnings beat for PNM Resources this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. You can see the complete list of today’s Zacks #1 Rank stocks here.
Earnings ESP: The company’s Earnings ESP is +1.99%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Currently, PNM Resources carries a Zacks Rank #2.
Factors to Consider
In its second-quarter earnings call, the company announced that its financial performance was hurt by milder-than-expected weather. Nevertheless, a normal weather condition in July is likely to have made a positive impact on the company’s third-quarter results.
The company witnesses strong demand from its Texas-New Mexico Power Company (TNMP) customers, which has likely contributed to third-quarter performance.
Q3 Expectations
The Zacks Consensus Estimate for third-quarter earnings per share is pegged at $1.26, which calls for year-over-year growth of 16.67%.
Other Stocks to Consider
Investors can consider the following players from the same industry that also have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Eversource Energy (NYSE:ES) is slated to release third-quarter 2019 results on Nov 6. It has an Earnings ESP of +1.06% and a Zacks Rank #2.
Exelon Corporation (NASDAQ:EXC) is set to release third-quarter 2019 numbers on Oct 31. It has an Earnings ESP of +0.06% and carries a Zacks Rank #3.
PPL Corporation (NYSE:PPL) is scheduled to release third-quarter 2019 results on Nov 5. It has an Earnings ESP of +1.37% and a Zacks Rank #3.
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PNM Resources, Inc. (Holding Co.) (PNM): Free Stock Analysis Report
Exelon Corporation (EXC): Free Stock Analysis Report
PPL Corporation (PPL): Free Stock Analysis Report
Eversource Energy (ES): Free Stock Analysis Report
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