Progress Energy Earnings Preview: Analysts Expect Flat EPS

Progress Energy PGN unveils its next round of earnings this Thursday, August 4, 2011. Get the latest predictions in Benzinga's essential guide to the company's second quarter earnings report.

Earnings and Revenue:

Analysts are predicting an EPS reading of 63 cents/share and revenues of $2.29 billion. Progress Energy's latest numbers will no doubt be compared with the company's year-ago quarter, when it reported a profit of 63 cents/share on revenues of $2.37 billion. We'll have to wait for Thursday to see if Progress Energy falls in line with analyst expectations and reports unchanged EPS and a slight decline in revenue from the year-ago quarter.

Here's how the company's reported EPS has stacked up against analyst estimates in the past:

Stock Performance:

Shares of Progress Energy were trading at $46.74 as of July 29, 2011. Shares are up 11.9% year to date.

Average Stock Rating:

The average rating by analysts for Progress Energy is a Hold. The strength of this rating has crept upwards over the past three months.

Competitors:

Wondering how Progress Energy compares to rivals in the same sector? Here are a few of the company's peers.

• American Electric Power Company AEP: Hold with a $0.73 recent quarter EPS
• Dominion Resources D: Hold with a $0.59 recent quarter EPS
• Duke Energy DUK: Moderate Sell with a $0.39 recent quarter EPS
• Entergy ETR: Hold with a $1.38 recent quarter EPS

The utility-electric power company's industry has seen price/earnings growth of 22.1% during the current fiscal year.

Finally, a description of the company's main areas of operation: Progress Energy is an integrated electric utility that generates, transmits and distributes power in portions of North Carolina, South Carolina and Florida.

Take Action:

Now that you have reviewed all the numbers, be ready to move if the upcoming Progress Energy earnings report has any surprises. Also, come back to Benzinga after the announcement for a full recap and a guide to your next steps.

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