Based in New Orleans, Louisiana, Entergy Corporation (ETR) is a prominent integrated energy company that delivers reliable and sustainable energy solutions. With a market cap of $23.71 billion, Entergy is well-regarded for its commitment to innovation in energy production and its robust portfolio of utility and power generation assets. The company is poised to announce its fiscal Q2 earnings results before the market opens on Thursday, Aug. 1.
Ahead of the event, analysts expect ETR to report a profit of $2.07 per share, up 12.5% from $1.84 per share in the year-ago quarter. In the last four quarters, the company has surpassed Wall Street’s bottom-line estimates in two and missed on other occasions.
Its adjusted earnings of $1.08 per share for the last quarter missed the consensus estimate by 25%. Lower revenues across all segments and higher operating expenses led to the earnings miss.
For fiscal 2024, analysts expect ETR to report EPS of $7.22, up 6.7% from $6.77 in fiscal 2023.
ETR stock is up 9.3% on a YTD basis, underperforming the broader S&P 500 Index's ($SPX) 16.7% gains and the Vanguard Utilities Index Fund ETF Shares (VPU) 11.8% returns over the same time frame.
ETR reported its Q1 results on Apr. 24. Revenue of $2.79 billion fell short of the $3.18 billion forecasted by analysts. Following the release of results, the stock gained by over 1% in the next trading session.
The consensus opinion on ETR stock is optimistic, with an overall “Moderate Buy” rating. Out of 17 analysts covering the stock, 10 advise a “Strong Buy” rating, one suggests a “Moderate Buy” rating, five advise a “Hold,” and one recommends a “Strong Sell.”
This configuration is less bullish than three months ago when the stock had 11 “Strong Buy” ratings. ETR's average analyst price target is $113.44, indicating a potential upside of 2.6% from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
