Zacks: Analysts Expect PG&E Co. (NYSE:PCG) Will Announce Quarterly Sales of $4.97 Billion

Wall Street analysts forecast that PG&E Co. (NYSE:PCGGet Rating) will announce $4.97 billion in sales for the current quarter, according to Zacks. Two analysts have made estimates for PG&E’s earnings. The highest sales estimate is $5.03 billion and the lowest is $4.92 billion. PG&E posted sales of $4.72 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that PG&E will report full-year sales of $21.89 billion for the current fiscal year, with estimates ranging from $21.88 billion to $21.90 billion. For the next financial year, analysts anticipate that the company will report sales of $22.50 billion, with estimates ranging from $22.42 billion to $22.57 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for PG&E.

PG&E (NYSE:PCGGet Rating) last announced its quarterly earnings results on Thursday, February 10th. The utilities provider reported $0.28 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.28. PG&E had a negative net margin of 0.45% and a positive return on equity of 10.07%. The firm had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.32 billion. During the same period in the previous year, the company earned $0.21 earnings per share. PG&E’s quarterly revenue was up 10.5% compared to the same quarter last year.

A number of equities analysts have recently issued reports on the stock. Morgan Stanley raised their target price on shares of PG&E from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 22nd. StockNews.com assumed coverage on shares of PG&E in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Mizuho lifted their price objective on shares of PG&E from $16.00 to $18.00 in a research note on Tuesday, April 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $14.25.

PCG opened at $12.31 on Wednesday. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.80. PG&E has a 52 week low of $8.24 and a 52 week high of $13.19. The business’s 50 day moving average is $11.66 and its two-hundred day moving average is $11.85. The firm has a market cap of $30.35 billion, a price-to-earnings ratio of -136.76, a price-to-earnings-growth ratio of 4.50 and a beta of 1.33.

In other news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the firm’s stock in a transaction on Thursday, April 14th. The shares were sold at an average price of $12.04, for a total value of $722,400,000.00. Following the completion of the sale, the insider now owns 377,743,590 shares in the company, valued at approximately $4,548,032,823.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.07% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Profund Advisors LLC grew its stake in shares of PG&E by 1.8% during the 4th quarter. Profund Advisors LLC now owns 54,656 shares of the utilities provider’s stock worth $664,000 after purchasing an additional 950 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in PG&E by 2.7% during the fourth quarter. Oppenheimer & Co. Inc. now owns 38,597 shares of the utilities provider’s stock worth $469,000 after buying an additional 1,001 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its position in PG&E by 5.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 19,676 shares of the utilities provider’s stock worth $239,000 after buying an additional 1,027 shares during the period. Lumbard & Kellner LLC increased its holdings in PG&E by 4.4% in the third quarter. Lumbard & Kellner LLC now owns 25,983 shares of the utilities provider’s stock valued at $249,000 after buying an additional 1,098 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of PG&E by 1.0% during the 3rd quarter. US Bancorp DE now owns 111,046 shares of the utilities provider’s stock valued at $1,065,000 after acquiring an additional 1,135 shares during the period. 78.38% of the stock is owned by institutional investors and hedge funds.

About PG&E (Get Rating)

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

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